Japanese cryptocurrency exchange Coincheck has said it plans to compensate victims of its January hack starting next week.
Nikkei reports that Japan's Financial Services Agency will hit some cryptocurrency exchanges with penalties and suspend others for poor practices.
February is officially in the books for the crypto markets, though some coins may be left wishing they could turn back time.
Japanese exchange Coincheck is facing another class action lawsuit demanding cryptocurrency refunds and compensation for hack losses.
A group of Japanese cryptocurrency exchanges is reportedly uniting to form a new self-regulatory body in the wake of the recent Coincheck hack.
The Japanese government said today that inspections will take place at 15 unlicensed cryptocurrency exchanges in light of a recent major hack.
Since Coincheck partially resumed business activities following its recent hack, investors have flocked to withdraw millions from the exchange.
Japanese cryptocurrency exchange Coincheck has said it plans to allow users to start withdrawing local currency from their accounts next Tuesday.
Following a notable hack, Japanese regulators are moving to increase the frequency of on-site cryptocurrency exchange inspections.
Japan's Financial Services Agency is conducting an on-site inspection at Coincheck to see if it can afford to compensate victims of its recent hack.
The 58 billion yen worth of XEM tokens are on the move, according to the NEM Foundation, but no attempt to sell them on exchanges has been made.
Following last week's huge hack, Japan's Financial Services Agency has said Coincheck must report on the issues and its plan for improvements.
Though the Coincheck theft may superficially resemble 2014's Mt. Gox hack, the impact on cryptocurrencies is not nearly as significant.
Japanese exchange Coincheck has confirmed that about $533 million-worth of cryptocurrency has been stolen from its digital wallets.
Major Japanese exchange Coincheck has announced the suspension of a number of services today, including all cryptocurrency withdrawals.