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Politics

Japanese regulator to punish cryptocurrency exchanges

Certain unregistered operators face suspensions

TOKYO -- Japan's financial watchdog plans to penalize a number of cryptocurrency exchange operators for not taking adequate steps to protect customers and prevent money laundering, Nikkei learned Wednesday.

The Financial Services Agency is expected to order some exchanges to suspend operations and tell others to shape up or risk further punishment. An official announcement is expected as early as this week.

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