Japan to Enforce Tougher Crypto Anti-Money Laundering Laws Next Month: Report

Japan’s crypto industry has been grappling with the travel rule since 2021 when Japan’s Financial Services Agency (FSA) requested virtual asset services providers to implement it. In April 2022, Japan’s Virtual Currency Exchange Association (JVCEA) introduced self-regulatory rules accordingly. In October last year, Japan’s government approved a cabinet decision to amend existing laws to curb money laundering using crypto, in line with FATF guidelines.