The Japanese crypto exchange Coincheck was hacked on January 26 and about $530 million in altcoin NEM was stolen.

As part of the legalization of Bitcoin (BTC) as a payment method in April 2017, crypto exchanges must be registered by the government. Crypto-exchanges that operated in Japan until April 2017 were allowed to continue working when applying for registration, writes the Japan Times.

The FSA also ordered all cryptomerias in Japan to report on the risk management system after the break. After receiving reports of 16 registered and 15 unregistered exchanges ICA ordered to conduct an inspection of the unregistered exchanges on the ground. Coincheck has already submitted its report to the FSA on February 13.

Financial services Minister Taro ASO said on-site inspections would focus on computer system security measures and customer asset management, the Japan Times reported.

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