Type to search

blockchain industry cryptocurrency news Japan News world news

Japan will Tighten Regulation of the Crypto Industry

Share
Crypto Industry

Japan will tighten regulation of the Crypto Industry

crypto industry

The Japan Financial Services Agency (FSA) will implement the FATF anti-money laundering and counter-terrorist financing guidelines for local cryptocurrency companies. This is stated on the regulator’s website.

The agency has asked community representatives to prepare for tightening regulation. The changes will take effect by April 2022 and will require virtual service providers to provide transaction data.

In June 2019, the Financial Action Task Force on Money Laundering obliged bitcoin exchanges and digital asset related companies to comply with AML / CFT procedures, similar to traditional financial companies. Later, Executive Secretary David Lewis said the industry was just beginning to adapt to the requirements that many countries had already incorporated into their legislation.

Recall that in February 2021, the FATF announced an update to the regulation rules. In the draft document, the group referred to the decentralized finance and NFT sector.

Read about all BitXmi updates in April here

Read actual crypto news and crypto forecasts every day on https://news.bitxmi.com/

Join Bitxmi Exchange

Disclaimer: Bitxmi News is a news portal and does not provide any financial advice. Bitxmi's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Bitxmi News won't be responsible for any loss of funds.

Leave a Comment

Your email address will not be published. Required fields are marked *

WP2Social Auto Publish Powered By : XYZScripts.com
bitcoin
Bitcoin (BTC) $ 58,967.00 5.22%
ethereum
Ethereum (ETH) $ 2,273.72 8.64%
binance-coin
Binance Coin (BNB) $ 506.51 2.54%
xrp
XRP (XRP) $ 1.49 8.53%
tether
Tether (USDT) $ 0.999690 0.15%
cardano
Cardano (ADA) $ 1.34 7.56%
polkadot
Polkadot (DOT) $ 41.18 3.82%
dogecoin
Dogecoin (DOGE) $ 0.292844 18.26%
litecoin
Litecoin (LTC) $ 286.76 11.81%
bitcoin-cash
Bitcoin Cash (BCH) $ 962.23 15.44%
uniswap
Uniswap (UNI) $ 33.78 8.67%
chainlink
Chainlink (LINK) $ 38.39 12.21%
vechain
VeChain (VET) $ 0.227833 7.77%
stellar
Stellar (XLM) $ 0.578008 7.65%
theta-token
Theta Network (THETA) $ 12.91 12.33%
usd-coin
USD Coin (USDC) $ 0.995905 0.50%
filecoin
Filecoin (FIL) $ 171.17 9.04%
tron
TRON (TRX) $ 0.151928 11.77%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 59,095.00 4.90%
eos
EOS (EOS) $ 7.53 11.85%
klay-token
Klaytn (KLAY) $ 2.80 3.60%
neo
NEO (NEO) $ 91.79 2.67%
iota
IOTA (MIOTA) $ 2.26 11.95%
bitcoin-sv
Bitcoin SV (BSV) $ 338.79 21.72%
solana
Solana (SOL) $ 23.18 9.86%
monero
Monero (XMR) $ 347.59 0.37%
binance-usd
Binance USD (BUSD) $ 0.998923 0.38%
crypto-com-chain
Crypto.com Coin (CRO) $ 0.244663 5.08%
bittorrent-2
BitTorrent (BTT) $ 0.008939 4.75%
compound-ether
cETH (CETH) $ 45.70 8.08%
cosmos
Cosmos (ATOM) $ 23.39 11.31%
terra-luna
Terra (LUNA) $ 14.44 9.72%
tezos
Tezos (XTZ) $ 6.76 9.72%
aave
Aave (AAVE) $ 406.43 10.84%
ethereum-classic
Ethereum Classic (ETC) $ 36.24 18.20%
okb
OKB (OKB) $ 17.11 12.06%
algorand
Algorand (ALGO) $ 1.59 2.26%
ftx-token
FTX Token (FTT) $ 49.99 7.21%
avalanche-2
Avalanche (AVAX) $ 32.26 10.54%
compound-usd-coin
cUSDC (CUSDC) $ 0.021816 0.43%
nem
NEM (XEM) $ 0.441140 4.03%
kusama
Kusama (KSM) $ 440.91 2.97%
pancakeswap-token
PancakeSwap (CAKE) $ 24.18 5.21%
cdai
cDAI (CDAI) $ 0.021286 0.32%
elrond-erd-2
Elrond (EGLD) $ 205.41 3.60%
dai
Dai (DAI) $ 1.00 0.21%
dash
Dash (DASH) $ 337.09 10.66%
chiliz
Chiliz (CHZ) $ 0.619333 11.65%
holotoken
Holo (HOT) $ 0.018547 6.17%
thorchain
THORChain (RUNE) $ 13.83 9.29%