Comment: Armed with crypto law, Japan fights lonely battle against unregulated virtual-currency exchanges abroad
By Toko Sekiguchi ( March 23, 2018, 09:20 GMT | Comment) -- Japan’s financial watchdog today issued a warning against the world’s largest cryptocurrency exchange, Hong Kong-based Binance, for operating in Japan without government registration.That move to tighten its grip on virtual currency operators outside its borders highlights the regulator's growing concern about the wide regulatory gap between Japan and other jurisdictions — made painfully clear by the recent Coincheck hack, where differing virtual currency rules themselves have become impenetrable walls hindering efforts to track down the $530 million in funds lost through the hack.Japan’s financial watchdog today issued a warning against the world’s largest cryptocurrency exchange, Hong Kong-based Binance, for operating in Japan without government registration.That move to tighten its grip on virtual currency operators outside its borders highlights the regulator's growing concern about the wide regulatory gap between Japan and other jurisdictions — made painfully clear by the recent Coincheck hack, where differing virtual currency rules themselves have become impenetrable walls hindering efforts to track down the $530 million in funds lost through the hack....
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