The post Japan to Enforce Crypto Anti-Money Laundering Measures From June appeared first on Coinpedia Fintech News
Japan to tighten cryptocurrency Anti-Money Laundering (AML) rules from June 1 in line with global norms, Japan updated laws in December. FATF (Financial Action Task Force) slams weak AML efforts, watchdogs oversee crypto assets to prevent money laundering and legitimize illegal gains. The rule mandates sharing customer info for crypto transfers between institutions. The targeted assets comprise Stablecoins like crypto pegged to U.S dollars or commodity. Non-complying violators will be criminally punished.