- Reuters cites “two sources familiar with the matter” who claim that the regulator paid visits to the exchanges.
- Both Houbi and Fisco have had massive changes at the management level.
According to a report by Reuters Huobi and Fisco crypto currency exchange companies were investigated by the Japan’s watchdog the Financial Services Agency (FSA) last week. Reuters cites “two sources familiar with the matter” who claim that the regulator paid visits to the exchanges and looked into their customer protection as well as anti-money laundering (AML) systems.
The two exchange companies have had massive changes at the management level warranting the FSA to conduct a routine check if there is proper compliance with the measures that have been put in place.
Huobi entered the Japanese market through the acquisition of acquisition of a crypto exchange referred to as BitTrade in September last year. Fisco also acquired Zaif exchange following a major hack where a total of $62.5 million in various cryptocurrencies was lost. The owner of the exchange sold it at a sum of $44.7 million.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.