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The Japanese Financial Services Agency plans to require cryptocurrency exchanges to establish mandatory reserve funds.
[Japan's Financial Services Agency plans to require cryptocurrency exchanges to establish mandatory liability reserves] According to Nikkei News, the Japan Financial Services Agency plans to require Crypto Assets (Virtual Money) exchanges to establish mandatory liability reserves to respond to asset outflows caused by unauthorized access and to quickly compensate users in the event of an incident. The working group of the Financial System Council will include this system arrangement in a report to be released soon, and the Financial Services Agency will promote the formulation of specific rules based on it.