Japan's Financial Services Agency on June 14 issued a warning to LBankExchange, an overseas cryptocurrency (virtual currency) exchange, for offering unregistered virtual currency transactions. The FSA said that LBank Exchange "has an unknown location and unknown representative, and conducts cryptoasset trading business targeting Japanese residents through the Internet". According to CoinGecko, LBank ranks 56th among small and medium-sized exchanges in the 24-hour spot trading volume ranking.