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Coincheck theft exposes flaws in Japan's rules governing crypto coins

Coincheck was allowed to operate without regulatory approval by the govt

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Coincheck's signboard in Tokyo, Japan. Hackers made off with US$530 million from the Tokyo-based exchange, raising questions about Japan's mad dash to allow cryptocurrency to thrive.

Tokyo

AFTER the Mt Gox cryptocurrency exchange was stung by a half-billion-dollar theft in 2014, Japanese regulators swung into action.

Their goal was to craft rules that both protected traders and allowed a promising sector to flourish. By last April, they thought they had arrived

sentifi.com

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