Japan Moves to Mandate Reserves for Crypto Exchanges as Hacks Mount

Japan's Financial Services Agency (FSA) has announced a new regulation requiring cryptocurrency exchanges to maintain dedicated liability reserves to protect investors from potential losses due to hacks or operational failures. This decision follows the infamous Mt. Gox incident, highlighting the need for enhanced security measures in the volatile crypto market.

Japan's Financial Services Agency (FSA) is set to mandate that cryptocurrency exchanges maintain liability reserves to enhance security and protect customer assets. This regulatory requirement aims to address operational risks and safeguard users against potential losses from events such as hacks.

Japan's Financial Services Agency (FSA) is set to introduce a mandate requiring cryptocurrency exchanges to maintain dedicated liability reserves to protect investors from potential losses. This regulatory move is aimed at enhancing consumer protection in the wake of increasing security breaches and operational risks within the cryptocurrency sector.

An advisory body to Japan's Financial Services Agency (FSA) is set to recommend that cryptocurrency exchanges hold reserves to compensate users for potential losses due to events like hacks. This move aims to enhance consumer protection in the rapidly evolving crypto market.

TD Cowen analysts have indicated that Strategy's stock may face continued pressure as MSCI is expected to decide by mid-January on the removal of PBTCs like Strategy from its indexes in February. This potential exclusion could significantly impact the company's market presence and investor confidence.

Japan's financial watchdog has announced plans to require cryptocurrency exchanges to maintain liability reserves, aimed at protecting customer assets and managing operational risks. This regulatory move reflects a growing emphasis on consumer protection within the rapidly evolving crypto landscape.

A Hong Kong man has been sentenced to seven years in Canada for his involvement in a violent home invasion that resulted in the theft of $1.6 million in Bitcoin from a family in British Columbia. The incident included sexual assault, highlighting the severe criminal implications associated with cryptocurrency theft.

JPMorgan Chase has closed the accounts of Strike CEO Jack Mallers, citing 'concerning activity,' amid ongoing controversies surrounding the bank's ties to Jeffrey Epstein. This incident has reignited fears of debanking within the cryptocurrency sector, particularly affecting prominent figures and companies in the industry.