Japan’s Financial Services Agency (FSA) and National Police Agency (NPA) issued a joint directive ordering registered crypto exchanges in the country to strengthen their anti-fraud controls. In 2023, Japan recorded 19,038 fraud cases totaling 45.26 billion yen. Approximately 8.73 billion yen from online bank fraud was routed through crypto exchange accounts. The directive calls for stricter withdrawal restrictions and enhanced monitoring of suspicious fund flows. Japan plans to apply standards closer to those governing securities firms to crypto exchanges between 2025 and 2026.
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