Japan’s Crypto Association to Stiffen Rules on Managing Assets after Zaif Attack

After the Zaif exchange was hacked last week with around $60 mln stolen, the Association of Electronic Exchanges in Japan intends to set a strict limit for the sum of virtual coins to be held in hot wallets.

The Japanese agency intends to set the limit of around 10 to 20 percent of customers’ balances to be held and traded from an online vault. The agency will revise the rules that it made in mid-summer and introduce them once they are verified by the Japanese regulator.