Japan Enhances Crypto Regulations to Combat Fraud and Protect Users

Japan Enhances Crypto Regulations to Combat Fraud and Protect Users



Japan's leading financial watchdog has put forward suggestions to safeguard consumers against illegal fund transfers to digital currency platforms.



The Financial Services Agency (FSA) highlights the persistent high frequency of scam transactions within the nation, predominantly involving digital assets. The FSA proposes a variety of strategies aimed at shielding consumers from unauthorized transactions. Specifically, these strategies are expected to significantly disrupt the peer-to-peer (P2P) trading landscape.



Accordingly, the FSA, alongside the National Policing Agency (NPA), urges financial institutions to "enhance their customer protection measures." To attain this objective, the FSA and NPA are advocating for a series of critical actions. Among these is a directive for banks to step up surveillance on suspect transfers to


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