Japan’s Financial Services Agency has ordered two cryptocurrency exchanges — Bitstation and FSHO — to stop doing business for a month. Five others, including Coincheck, were instructed to improve internal controls and report back to the regulator.

日本金融厅(Financial Services Agency)下令两家加密货币交易所——Bitstation和FSHO——停止营业一个月，并命令包括Coincheck在内的另外五家交易所加强内部控制，且要向这家监管机构作汇报。

The action follows an investigation into digital currency exchanges that found poor compliance with anti-money laundering standards, badly trained staff and “misappropriated” cryptocurrencies. The probe followed a $500m theft, in January, at Coincheck, one of the largest operators.

这次行动之前，一项对数字货币交易所的调查发现它们未能遵守反洗钱规定，员工缺乏培训，且存在“侵吞”加密货币现象。这项调查是因最大运营商之一Coincheck 1月份失窃5亿美元而引起的。

The crackdown is likely to prompt a shake-up in Japan’s booming market for cryptocurrency trading as weaker exchanges go out of business or team up with larger, better-organised competitors.

此次整治可能会促使日本繁荣的加密货币交易市场发生洗牌，弱小的交易所出局，或与规模较大、组织更好的竞争对手合作。

Financial companies often struggle to bounce back from a business suspension order, making it a potent regulatory punishment.

金融公司被要求暂停经营后，往往很难恢复元气，因此这是一种有力的监管惩罚。

It also raises questions about the quality of the FSA’s original regulatory scrutiny of the 32 cryptocurrency exchanges in Japan. Sixteen are operating with full licences and a further 16, including Coincheck, rely on provisional authorisation to trade.

这也令人开始质疑日本金融厅对国内32家加密货币交易所最初的监管审查质量。16家交易所拥有正式许可证，而包括Coincheck在内的另外16家依靠临时的经营授权。

Although the FSA’s on-site inspections are not complete, it has found cases where exchanges did not follow anti-money laundering rules or had inadequate internal controls.

虽然日本金融厅的现场检查仍未完成，但已发现交易所存在没有遵守反洗钱规定或内控机制不足的情况。

At Nagoya-based Bitstation, a company official “misappropriated user cryptocurrencies for private use”, said the FSA. It ordered Bitstation to halt its business until April 7 and report on improvements to its handling of user funds.

日本金融厅称，总部位于名古屋的Bitstation的一个负责人“侵占用户的加密货币做私用”。它要求Bitstation暂停营业至4月7日，并报告其对用户资金处理的改进。

At FSHO, based in Yokohama, the regulator said staff were inadequately trained and did not follow internal procedures. “There were repeated cases of high-value cryptocurrency trades with no judgment made about the need for notification of a suspicious transaction,” said the regulator.

日本金融厅称，在总部位于横滨的FSHO，员工不但缺乏培训，而且没有遵守内部程序。该监管机构表示：“大额的加密货币交易一再发生，而没有人对是否需要报告可疑交易做出判断”。

FSHO was also ordered to suspend trading until April 7 and make the necessary notifications of suspicious transactions.

FSHO也被要求暂停营业至4月7日，并报告可疑交易。

Hackers broke into Coincheck’s systems in the early hours of the morning on January 26 and stole about $500m of the cryptocurrency XEM belonging to 260,000 customers.

1月26日凌晨，黑客侵入Coincheck的系统，偷走了约5亿美元的加密货币XEM，这些加密货币属于26万名客户。

Coincheck has vowed to repay customers from its own resources but the credibility of that plan is still unclear. The company has restarted yen withdrawals, letting customers with cash on deposit to remove it. However, trading in cryptocurrencies remains suspended until Coincheck improves security.

Coincheck誓言将以自己的资源偿还客户，但该计划的可信度仍不清楚。该公司已重新启动日元提款，让账户上有现金存款的客户取出款项。但在Coincheck提高其安全性之前，加密货币交易仍然暂停。

Japan is one of the only jurisdictions in the world to embrace and regulate cryptocurrency trading. The resulting boom in activity put the country at the heart of a tenfold surge in the price of bitcoin, the leading cryptocurrency, during 2017.

日本是全球少数拥抱加密货币交易并对其进行监管的司法管辖区之一。由此带来的交易繁荣使日本成为2017年期间比特币——主要加密货币——价格飙升10倍的中心。

Investors are waiting to see if the FSA’s crackdown spreads from tighter enforcement of the existing rules to changes in the permissive regulatory environment.

投资者正拭目以待，看日本金融厅的整治活动是否由加强对现有规定的执行，扩展到改变当前宽松的监管环境。