Japan to enforce crypto anti-money laundering steps from June

Japan’s Cabinet decided Tuesday to enforce stricter anti-money laundering measures from June 1 to trace cryptocurrency asset transactions, bringing its legal framework in line with global standards.

Japan revised relevant laws in December after its anti-money laundering steps were deemed insufficient by the Financial Action Task Force, an international standard-setting financial watchdog.

Oversight organizations have been strengthening their monitoring of crypto assets that can be used to launder money, an activity in which money obtained from illegal activities is made to look legitimate by p...