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Japan Treats Cryptocurrency Traders As Part Of Its Anti-Money Laundering Plan

Mary Liu

Summary: Junichi Nakajima, the new Minister of the Japan Financial Services Agency (FSA), said in an interview with the Wall Street Journal that cryptocurrency dealers and banks have the same obligations and should not deal with criminals. Japan regards cryptocurrency dealers as part of an anti-money laundering program.  Japan’s FSA is planning to create a universal industry-wide ...

Junichi Nakajima, the new Minister of the Japan Financial Services Agency (FSA), said in an interview with the Wall Street Journal that cryptocurrency dealers and banks have the same obligations and should not deal with criminals. Japan regards cryptocurrency dealers as part of an anti-money laundering program. 

Japan’s FSA is planning to create a universal industry-wide system that financial companies can use to determine whether their clients may be terrorists and whether their accounts are at risk of being used for money laundering.

By Mary Liu

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