The Japanese government should introduce rules that target criminals using crypto from crypto exchanges to launder money. Reportedly, these remittance rules are supposed to be introduced by next springtime.
The Act on the Prevention of the Transfer of Criminal Proceeds is supposed to be revised so that it is mandatory to share customer information between cryptocurrency exchange operators.
This is supposed to track the money transfers of people who are dealing in illegal activities.
The rule that involves sharing customer information requires sharing customer information that includes customers’ names and even addresses when there are crypto transfers between platforms.