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9/27, 11:57 AM (Source: TeleTrader)
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Japan to discuss crypto money laundering in Oct.

Japan will present on October 3 a draft amendment to the law regarding remittance rules in the cryptocurrency sector aimed at preventing possible money laundering using crypto, Nikkei reported on Tuesday. The new rules are expected to enter into force in May next year.

Once becoming effective, the new measures will require customer identification when sending cryptocurrencies with the use of different crypto exchanges and will also apply to stablecoins as the Japanese government prepares to establish a more comprehensive crypto monitoring system in the country, the Japanese media said.

Baha Breaking News (BBN) / MM