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Sunday

18 April 2021

Japanese Regulator Aims to Implement FATF Rules Toward Crypto Companies in 2022 – Regulation Bitcoin News

Japanese Regulator Aims to Implement FATF Rules Toward Crypto Companies in 2022 – Regulation Bitcoin News


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Japan’s Financial Services Agency (FSA) has revealed that the regulating body will adopt the Financial Action Task Force (FATF) “travel rule” and standards toward the cryptocurrency industry throughout the nation.

On Wednesday, the Japanese regulator the Financial Services Agency (FSA) announced that the country plans to adopt the Financial Action Task Force (FATF) guidelines toward virtual assets (VAs) and virtual asset service providers, otherwise known as VASPs.

The FSA announcement stemming from Japan says that it would like the Japan Virtual and Crypto Assets Exchange Association (JVCEA) to cooperate with the FATF guidelines.

South Korean officials have been leveraging the National Tax Service (NTS) and the South Korea Financial Services Commission initiated AML laws toward crypto in March.

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