Japanese Regulators Discussed Restricting Trade Of Privacy-Focused Altcoins

Japanese regulators suggested preventing cryptocurrency exchanges from trading anonymity-oriented altcoins Dash (DASH) and Monero (XMR) this month, Forbes reports today, April 30. Relating the outcome of a working group meeting of industry “experts” and the country’s regulator the Financial Services Authority (FSA), the publication quotes one member of the group raising the idea of preventative measures regarding the altcoins, which are known for their focus on privacy and user anonymity.

“It should be seriously discussed as to whether any registered cryptocurrency exchange should be allowed to use such currencies,” the unnamed member said, according to Forbes. In light of Japanese exchange Coincheck’s $530 mln hack in January of this year, the FSA has scrambled to ensure a repeat performance does not befall Japan’s crypto sector.

Reference: https://cointelegraph.com/news/japanese-regulators-discussed-restricting-trade-of-privacy-focused-altcoins-report-says

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