The Japanese government will introduce new rules tightening the fight against the laundering of illegally obtained funds through digital assets. The report comes from Nikkei.
Local cryptocurrency exchanges will be required to transmit information about customers, including names and addresses, when moving cryptocurrencies between platforms. The measures will give authorities additional leverage to monitor transfers of funds by individuals engaged in illegal activity.
The new rules will also apply to stablecoins.
According to the report, Parliament will consider amendments to the Money Laundering Prevention Act at its session on 3 October. If approved, they will come into force in May 2023.
In the spring of 2021, the Financial Services Agency of Japan (FSA) announced plans to implement the guidelines of the FATF for local cryptocurrency companies. The changes will oblige virtual asset service providers to disclose transaction data.
Subsequently, it became known that the FSA intends to introduce tougher rules for digital assets in order to protect investors. The regulator also established a division for cryptocurrency oversight, according to the media.
Back in June 2022, Japan’s parliament passed a bill that признал стейблкоины цифровыми деньгами.
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