From Beijing to Tokyo, Asian nations get active in crypto regulation: Law Decoded, May 22–29
Cointelegraph
Published May 29, 2023 03:30PM ET
Updated May 29, 2023 05:20PM ET
Last week almost all the key markets for digital assets in Asia got updates from local regulators. Lawmakers in Japan have decided to enforce stricter Anti-Money Laundering measures to trace cryptocurrency transactions from June 1.
According to reports, a vital feature of the new measures is the enforcement of the “Travel Rule” to keep a more accurate track of criminal proceeds. It requires any financial institution processing a crypto transfer over $3,000 to pass customer information to the recipient exchange or institution. The data should include the name and address of the sender and recipient and account information.
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Written By: Cointelegraph
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