Japan’s Financial Services Agency (FSA) is reportedly cracking down on crypto exchanges that offer anonymous transactions or have weak identity verification practices in preparation for inspection by the Financial Action Task Force (FATF) this fall. Nikkei Asian Review reported the development on May 22.
The FATF will reportedly send its investigatory arm to review the strength of the Japanese FSA’s anti-money laundering (AML) policies, which includes policy for crypto exchanges and other financial services.
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