bitFlyer, Japan’s largest Bitcoin exchange, is being forced to stop taking on new business after regulators said it wasn’t doing enough to stop money laundering and terrorist financing.
The move by the Tokyo-based exchange saw a drop in the price of the coin and highlights how the country’s financial watchdog, the Financial Services Agency (FSA), is moving against exchanges they have doubts about. On top of bitFlyer, today also saw business-improvement orders issued to five other cryptocurrency exchange operators.