The Japan Financial Services Authority (FSA) plans to strengthen internal audit processes for financial institutions, including crypto exchanges, to improve regulatory compliance and address industry shortcomings. The FSA will hold a roundtable discussion involving key organizations to guide these changes, aligning with international standards to close existing gaps in financial auditing practices. The revisions aim to ensure robust oversight of crypto exchanges, enhancing consumer protection and market stability. Additionally, the FSA has cracked down on unregistered crypto exchanges operating in Japan, warning five exchanges, including KuCoin and Bitget, for not properly registering. Japan's cautious approach to cryptocurrency regulation reflects its prioritization of consumer protection and security, while still fostering innovation through recent reforms to crypto taxation laws and economic stimulus efforts.



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