As of June 1, Japan will harden its stance on money laundering and introduce the “Travel rule”, which is also supported by the G-7 committee.
Japan via cryptocurrencies money laundering to prevent more stringent methods will apply. According to the news presented by local media agency Kyodo News. japan parliament in line with a decision taken by June 1 will tighten money laundering practices. Decision, G-7 created at the summit Financial Action Task Force (FATF) made by a your call then it came.
“Travel ruletightening the anti-money laundering stance and Countries like Japan should set an example in this regard. requesting FATF, A $3,000 transfer limit underlined. With this application to be implemented a framework for global standards drawing and accordingly your integration intended to accelerate.
Under the rule to be introduced by the Japanese parliament as of June 1, over $3,000 any financial institution that processes cryptocurrencies will need to forward customer information to the receiving exchange or institution. Persons performing the transfer between the data to be transmitted First Name And address will also be included.
The travel rule was issued in Japan last May. At the G7 meeting raised by global leaders and this rule the strong support of the committee. had received. The main starting point of the rule, FATF, 1989 It is an international organization created at the G-7 summit in 2017. The main purpose of the institution is to terrorism financing And black money laundering combating financial crimes.