Japan's Financial Services Agency has ordered two bitcoin exchanges to suspend business for a month The exchanges are Bitstation and FSHO

The agency said Thursday that a Bitstation employee used customer funds for personal transactions and that FSHO does not have proper systems to protect customers The regulator also imposed administrative penalties on five other bitcoin exchanges They were found to have inadequate systems for customer protection and money-laundering prevention One of the five exchanges is Coincheck Coincheck lost an estimated US$530 million to hackers in January

The heist was the largest virtual currency theft on record Coincheck has until March 22 to report on how it will prevent money laundering and terrorism financing For United News International in Tokyo, I'm Jungsil Kim