As a seasoned crypto investor with a decade of experience under my belt, I find the recent moves by Japan’s Financial Services Agency (FSA) to be both reassuring and slightly amusing, given my own personal auditing experiences. The FSA’s call for stronger internal audits across the financial sector, particularly focusing on crypto exchanges, is a step in the right direction towards ensuring the safety and transparency of our digital assets.
2024 Monitoring Report from the Financial Services Agency Recommends Enhanced Internal Audits and Increased Oversight over Cryptocurrency Exchanges, Highlighting the Need for Stricter Supervision.
The Japanese financial watchdog advocates for robust internal audits throughout the finance industry, emphasizing the importance of increased supervision, particularly in relation to cryptocurrency trading platforms.
On December 26th, as stated in a press release, the Financial Services Agency has announced plans to revise its “Current Situation and Issues” guidelines, introducing fresh auditing methods to align with global standards. To bolster audit quality, the FSA also intends to organize a “Discussion on Strengthening Internal Audits at Financial Institutions” scheduled for late January 2025.
As a crypto investor, I recently read a press release stating that the Financial Services Agency (FSA) is organizing a roundtable discussion. Notably, this gathering will include key figures from the banking sector and the Japan Cryptocurrency Exchange Association, which counts esteemed members such as bitFlyer and Coincheck among its ranks. Unfortunately, the details regarding the agenda or specific topics to be discussed remain undisclosed at this time.
The latest initiative also comes shortly after Japanese police revealed that hackers affiliated with the North Korean regime are likely behind the $307 million attack on Japanese crypto exchange DMM Bitcoin.
On December 23rd, a joint statement was issued by the Federal Bureau of Investigation and Japan’s National Police Agency, disclosing that a cyber attack from May has been linked to North Korean cyber operatives. This incident is also connected with the threat group recognized as TraderTraitor or Jade Sleet, UNC4899, and Slow Pisces.
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2024-12-26 19:38