Cryptocurrency Q&A
How do crypto exchanges work in Japan?
How do crypto exchanges work in Japan?
Margherita
Wed Jul 17 2024
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7 answers
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I'm curious to know how crypto exchanges operate in Japan. Could you elaborate on the regulatory framework that governs these platforms? Are there specific rules or licenses that exchanges need to obtain? What measures are taken to ensure security and transparency for investors? Additionally, how do Japanese crypto exchanges handle the trading of different cryptocurrencies and what are the typical fees or commissions involved? Understanding the operational mechanisms of these exchanges in Japan would greatly assist me in navigating the cryptocurrency market there.
7 answers
SolitudeSeeker
Thu Jul 18 2024
CFT obligations require exchanges to monitor and report suspicious transactions that may be linked to terrorist financing.
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EchoPulse
Thu Jul 18 2024
Cryptocurrency exchanges operating in Japan are required to adhere to stringent regulations set forth by the Financial Services Agency (FSA).
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CryptoTitaness
Thu Jul 18 2024
To comply with these regulations, exchanges implement rigorous verification processes for new users, including identity checks and address verifications.
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Sara
Thu Jul 18 2024
As a result, these exchanges must comply with Anti-Money Laundering (AML) measures and fulfill their obligations in combating the financing of terrorism (CFT).
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Tommaso
Thu Jul 18 2024
Existing users are also subject to periodic reviews to ensure continued compliance with AML and CFT regulations.
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