The Japanese regulator has issued business improvement orders to six of the country’s 16 fully-licensed crypto exchanges including Bitflyer, Quoine, and Tech Bureau
Japan’s top financial regulator, the Financial Services Agency (FSA), issued six new business improvement orders on Friday, June 22. The orders to Bitflyer, Tech Bureau, Bitpoint Japan, Btcbox, Bitbank, and Quoine follow the agency’s first rejection of a crypto exchange registration on June 7.
Bitflyer, Japan’s largest crypto exchange by volume, received an “administrative penalty” order. The agency said that after an inspection, “an effective management system has not been established to ensure proper and reliable operation of the business, as well as countermeasures against money laundering and terrorist financing.”
The other five exchange is also recived the same exchange..
This news has also get impact on market. Due to which market his crashed and bitcoin price drop from 6700$ to 6100$. Now it has got supporting level at 6100$.
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