Japan's Financial Services Agency issues new cybersecurity regulations for crypto exchanges, strengthening a three-layer protection framework

Odaily Planet Daily, reports: The Financial Services Agency of Japan has issued a policy titled “Policies for Strengthening Cybersecurity for Enterprises Such as Crypto Asset Exchanges.” With protecting investors’ assets as its core goal, it proposes a three-tier security defense system of “self-help, mutual help, and public assistance,” corresponding to coordinated defense by the enterprises themselves, self-regulatory organizations, and regulatory authorities, respectively.

The policy states that besides the leakage of signature keys such as seed phrases, the risk of complex attack methods is rising, including social engineering attacks and intrusions into outsourced service providers. It calls for strengthening overall defensive capabilities. Meanwhile, Japan plans to include crypto-related scenarios in the “Delta Wall” cross-industry cybersecurity drill to enhance the industry’s emergency response capabilities. (CoinPost)