Recommendation 16 ("the travel rule") requires a VASP sending crypto assets on behalf of an "originator" (the user requesting the crypto asset transfer) to submit certain information on the originator and the "beneficiary" (recipient) to the beneficiary's VASP.
The Financial Action Task Force (FATF) has asked regulatory agencies in every country to introduce its international standards ("The FATF Recommendations") for countering money laundering and the financing of terrorism.
Due to upgrading our risk management system, including compliance with the travel rule, it may take longer than usual for us to confirm the details of a transaction before it is sent. Also, please understand that we may request more transaction details if required.
For details, refer to the following links. (Only available in Japanese.)
Financial Services Agency:
Regarding the publication of the draft cabinet order for partial revision of the Order for Enforcement of the Act on Prevention of Transfer of Criminal Proceeds
Regarding the publication of the draft cabinet order for partial revision of the Order for Enforcement of the Act on Prevention of Transfer of Criminal Proceeds
Japan Virtual and Crypto assets Exchange Association (JVCEA):
Notice regarding travel rule compliance along with enforcement of the draft cabinet order for partial revision of the Order for Enforcement of the Act on Prevention of Transfer of Criminal Proceeds
Notice regarding travel rule compliance along with enforcement of the draft cabinet order for partial revision of the Order for Enforcement of the Act on Prevention of Transfer of Criminal Proceeds
