Japan's Financial Services Agency requires crypto exchanges to strengthen fraud prevention measures
2026-08-06 19:31:02
According to CoinMeta, as reported by Coinpost, on August 6th, the Japanese Financial Services Agency, in collaboration with the National Police Agency, issued a formal request to the Japan Cryptocurrency Exchange Association (JVCEA) to take measures to strengthen fraud prevention. The newly proposed 11 requirements include a pre-registration system for withdrawal addresses, re-examination of maximum deposit limits, restrictions on withdrawals within a certain period after deposits or coin purchases, enhanced transaction monitoring, and multi-factor authentication, among others. These measures are aimed at combating the increasingly rampant SNS investment scams and "pig-slaughtering schemes." For those requirements that necessitate system adjustments, officials have allowed exchanges to implement them in a planned manner.
Source:X
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