Financial Services Agency Publishes Draft Policy on Strengthening Cybersecurity for Cryptocurrency Exchange Operators

On February 10, the Financial Services Agency published the 'Draft Policy for Strengthening Cybersecurity in Cryptocurrency Exchanges and Related Businesses,' and began soliciting public comments, with a deadline set for March 11 at 5 PM. The draft policy comes in response to a series of asset outflows from cryptocurrency exchange operators worldwide due to targeted cyber attacks. The Agency highlighted that recent incidents involve not only the theft of signature keys but also sophisticated indirect attacks such as social engineering and network breaches at third-party service providers. It pointed out that relying solely on cold wallets no longer guarantees safe management, indicating a shift towards more comprehensive security measures.