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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

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.


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...

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