Share this article
Report: Japanese Crypto Exchanges Unite to Form Self-Regulatory Group
A group of Japanese cryptocurrency exchanges is reportedly uniting to form a new self-regulatory body in the wake of the recent Coincheck hack.
Updated Sep 13, 2021, 7:35 a.m. Published Feb 20, 2018, 7:45 p.m.
A group of Japanese cryptocurrency exchanges is reportedly uniting to form a new self-regulatory body in the wake of the recent Coincheck hack.
According to Reuters, which cites unnamed sources close to the group, 16 exchanges are making the move to self-regulate after the Coincheck exchange had $533 million-worth of NEM tokens stolen in a security breach in January. The new organization could be announced as soon as next week, the report suggests.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The sources said a plan to merge two existing groups – the Japan Cryptocurrency Business Association and Japan Blockchain Association – could not be agreed upon, and that the exchanges had opted to form a new organization that would be registered with the country's financial watchdog, the Financial Services Association (FSA).
The news comes days after it was announced that the FSA will conduct on-site inspections at 15 unlicensed cryptocurrency exchanges in light of the Coincheck theft. It is as yet unclear whether those exchanges are behind the new self-regulatory body, or whether Coincheck, which is not licensed, is part of the founding group.
The FSA has previously ordered all exchanges in the country to report on their security protocols and resistance to hacking in response to the Coincheck theft.
Since September 2017, following new legislation, the FSA has been issuing licenses to some of the country's crypto exchanges. Others that had filed for licenses, but had not been approved, were allowed to keep on functioning on a provisional basis.
Miniature men on map image via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
CoreWeave Stock Falls 8% on $2B Convertible Debt Offering
Though remaining sharply higher than their IPO price, shares have struggled over the past six months, losing 50%.
What to know:
- CoreWeave shares fell 8% after the company announced plans to raise $2 billion through a private convertible debt offering.
- The notes, due in 2031, may offer 1.5% to 2% interest and a 20% to 30% premium.
- Shares have struggled since their post-IPO surge, down about 50% over the past six months.
Top Stories
