SBI Holdings Again Invests in Crypto Exchange Under Scrutiny
SBI Holdings, the investment arm of Japanese financial giant SBI Group, is making a new round of investment in a cryptocurrency exchange that’s under increased scrutiny from the country’s financial regulator. The investment firm said in a release on Monday that it’s increasing its stake in Japanese exchange LastRoots via an undisclosed investment, following an initial capital injection in December 2017. The goal of the latest funding, according to the announcement, is to help the exchange enhance its internal business systems in order for it to become a licensed trading venue. As previously reported by CoinDesk, LastRoots was one of a number of unlicensed cryptocurrency exchanges that have been probed by the Japanese Financial Services Agency (FSA) in the months following the $520 million Coincheck exchange heist in January. LastRoots was issued with an FSA business improvement order in April, after the agency decided the platform had insufficient measures in
Like this article? Take a second to support us on Patreon!