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Major Crypto Exchanges Face Action Over Money-Laundering Fears

Major Crypto Exchanges Face Action Over Money-Laundering Fears

Japan’s financial watchdog is reportedly planning to force improvements at a number of licensed cryptocurrency exchanges over perceived issues with internal systems, including anti-money laundering (AML) measures.

According to a report from Nikkei on Tuesday, the country’s Financial Service Agency (FSA) intends to ensure full compliance with current AML rules at larger exchanges as their holdings of customer funds rapidly increases. The report suggests at least five exchanges, including bitFlyer, Quoine, and Bitbank, are on the FSA’s list to receive “business improvement orders” this week.

Please click on the link below to read the entire article.

https://www.coindesk.com/major-crypto-exchanges-face-action-over-money-laundering-fears/

 

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