...s it is known that the meeting was organized by a lobby group which includes Russia’s largest bank Sberbank, Alfa-Bank, VTB, and others. Members of the meeting also discussed regulatory issues with global experts, such as representatives from a japanese crypto exchange Bitflyer, Singapore-based blockchain platform NEM, and cryptocurrency Litecoin. Luc Frieden, former Minister of Finance of Lu...

...ce. In order to strengthen security of exchange and protect investors from such attacks, the Financial Service Agency strictly mandated the registration of all crypto trading platform operating in the country. Despite the security requirements, the japanese crypto exchange, Liquid was hacked recently when hackers stole around $80 million in cryptocurrency. The FSA has developed rules around the ...

...transactions to sanctioned targets. Moreover, the above-mentioned exchanges have to report FSA in case of suspicious unauthorized cryptocurrency transfers involving sanctioned entities and/or individuals. Due to the latter changes in legislation japanese crypto exchanges will be required to conduct any verification on transaction and flag them in applicable cases, only when an order is suspect...