Japan: Kanto Regional Financial Bureau investigation into CoinBest's compliance with Payment Services Act
Progress
Current status
in force
14 Jun 2024 in force
Scope
Implementers
Japan
Policy Area
Consumer protection
Policy Instrument
Quality of Service requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Government Branch
executive
Government Body
other regulatory body
Implementation Level
subnational
Timeline of events
Issued Kanto Regional Financial Bureau decision suspending CoinBest business operation and requiring proposal for business improvement plan
On 14 June 2024, the Kanto Regional Financial Bureau issued a business suspension and a business improvement order to CoinBest, a cryptocurrency exchange service provider. The suspension, effective from 14 June 2024 to 13 December 2024, stops the co…
SourceEvent type
investigation
Action type
ruling
Government branch
executive
Government body
other regulatory body