Japan Crypto Rule Now Targets Money Laundering Issues

Japan Crypto Rule Now Targets Money Laundering Issues

The Japanese government should introduce rules that target criminals using crypto from crypto exchanges to launder money. Reportedly, these remittance rules are supposed to be introduced by next springtime. The Act on the Prevention of the Transfer of Criminal Proceeds is supposed to be revised so that it is mandatory to share customer information between […]


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Japan's FSA asks cryptocurrency industry group to introduce FATF travel rule

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Japan preparing amendment to enforce FATF travel rules on crypto by May 2023:...

Meeting international Anti-Money Laundering standards is the latest in a series of measures Japan has taken in recent months to improve its cryptocurrency regulation. Japan is expected to enact new rules on money transfers to prevent the use of crypto for money laundering, according to local news agency Nikkei. The changes will bring Japan up to date with Financial Action Task Force (FATF) recommendations.An amendment to the Act on Prevention of Transfer of Criminal Proceeds will be introduced in the National Diet on Oct. 3 that will add crypto to the so-called travel rules on money....

FATF Issues Guidelines for Monitoring Digital Currency

Financial Action Task Force on Money Laundering (FATF), an international intergovernmental organization created to combat money laundering has recently issued guidance in the form of a report titled 'Guidance for a Risk-Based Approach to Virtual Currencies' for closer monitoring of cryptocurrency exchanges. The report discusses about various benefits associated with digital currencies and also the potential risks of money laundering and terror financing it comes along with. The report was published as part of the recently concluded plenary meeting held at Brisbane. The organization with....

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