bitFlyer, Japan’s largest cryptocurrency exchange, ceased registration of new users. The decision was due to the order of the Japanese financial regulator to improve flaws in its internal management systems.
bitFlyer will accept new clients after eliminating problems discovered by the watchdog. The exchange will also recheck the identities of existing customers after it found flaws in earlier registrations and will improve its safety measures.
Japan’s Financial Services Agency ordered other cryptocurrency exchange operators to improve their practices against money laundering.
Japan is one of the world’s popular hubs for cryptocurrency trading. This became possible after a number of cryptocurrencies were legalized in the country.
