BoJ official: Cryptocurrency-related services providers must proactively take steps to boost security

Reuters reports the following comments delivered by a senior BoJ official on the cryptocurrencies.

Recent crypto incidents underscore the importance of ensuring safety in financial services.

Cryptocurrencies mostly used for investments currently, speculative trading with usage for settlement is rare.

Providers of cryptocurrency-related services must proactively take steps to boost security and explain risks to investors.

Cyber-attacks against market infrastructure could pose a huge shock to the financial system that could spread to global markets.

BoJ will take steps to boost cyber-resilience and support private sector efforts to protect market infrastructure.