Japan has reportedly urged other countries, including the U.S., to regulate crypto exchanges like they do banks. A top official at the Financial Services Agency explained that the recent FTX implosion wasn’t brought on by crypto technology but by “loose governance, lax internal controls, and the absence of regulation and supervision.” Bank-Level Cryptocurrency Regulations Japan’s…
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Self-reg entity JVCEA has reportedly received stern warnings to get its act together, as Japan’s Financial Services Agency pushes for the organization to speed up its AML regulation rollout. Japan’s self-regulation “experiment” for the crypto industry is reportedly not working as well as intended, according to local government and industry experts. Since 2018, the Japan…
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Under the current variation of the law, there is no explicit procedure outlined for law enforcement officers to seize illegally obtained crypto from crime organizations. Japan’s Justice Ministry is reportedly considering a revision of an asset seizure law relating to organized crime to include a stipulation that crypto can be commandeered in such instances. If…
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