Express
Japan Introduces a Five-Point Framework to Prevent Hacks
Summary: Japan’s Financial Services Agency (FSA), after a system hack, stated that they will introduce a new perspective on issuing licenses to new exchanges, according to Nikkei Asian Review. The FSA’s Five-Point Framework intends to: Augment security measures on exchange platforms; prevent exchanges from using customers’ digital assets; clearly differentiate responsibilities of shareholders, management teams, and technical ...
Japan’s Financial Services Agency (FSA), after a system hack, stated that they will introduce a new perspective on issuing licenses to new exchanges, according to Nikkei Asian Review.
The FSA’s Five-Point Framework intends to: Augment security measures on exchange platforms; prevent exchanges from using customers’ digital assets; clearly differentiate responsibilities of shareholders, management teams, and technical teams; overcome money laundering activities by putting in place increased Know-Your-Customer compliance; ban all cryptocurrencies that possess features of “high-level anonymity” over money laundering concerns.
By Claudia Rivera
Tags: Exchanges,Hack,Japan
Link: Japan Introduces a Five-Point Framework to Prevent Hacks [Copy]
