BitFlyer adopts crypto deposit limits to comply with Travel Rule
1 min read
Cryptocurrency exchanges in Japan are preparing for the enforcement of the Financial Action Task Force’s Anti-Money Laundering (AML) regulations known as the Travel Rule.
On May 30, major Japanese crypto exchange bitFlyer
While adopting significant restrictions on transactions between exchanges, bitFlyer still supports transactions to and from self-custody wallets like MetaMask.
BitFlyer did not immediately respond to Cointelegraph’s request for comment. This article will be updated pending new information.
The news comes amid Japan’s preparations to enforce new crypto AML restrictions starting from June 1. On May 23, the Japanese parliament decided to strengthen AML measures to bring the local crypto framework in line with global crypto regulations. The new rules require any platform processing a crypto transfer greater than $3,000 to pass on customer data to the recipient exchange or institution.
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