Bitcoin Forum

FSA (Financial Services Agency), Japan’s financial watchdog, has sent business improvement orders to six crypto exchanges operating in Japan, according to an announcement made by the agency on Friday. Read on to know more!

Link for article : https://coinfrenzy.io/japans-financial-watchdog-sends-improvement-orders/

Ok, fair enough AML (Anti-Money Laundering) and KYC (Know Your Customer) requirements. At least it's better than some countries asking Cryptocurrency exchanges to shut down completely.

Yup, it's just normal. KYC and AML are clearly necessary nowadays when transferring values from crypto world to fiat world.
So the emphasis is on Improvement. Nothing scary :)

To be honest, Japan has always come across as a crypto-friendly country despite huge turbulence caused by incidents like the Mt. Gox hack. Japanese people are very lucky because of this! The exchanges should respect the requests of the regulator and stay compliant. I wished more countries were like Japan!

Cryptocurrency and governments are not enemies so they should come at peace to each other.
It's for everyones good to regulate cryptocurrency, it's trade and use. At least it would decrease the number of scams associated with it.

The Financial Services Agency (FSA) of Japan has mentioned that some business improvement orders have been sent to six crypto currency exchanges which are currently operating in the country.

KYC, so I have to know myself as I am my own bitcoin  bank.

I think Japan has taken a good initiative. It is much more better than before. Japan is a true crypto-friendly country. I hope many other countries will be as friendly and helpful like Japan.

yeah, it's really called improvement, because forcing KYC and AML are necessary requirement nowadays.
The KYC and AML is safe investors from scam projects that are willing to deceive.

IMO, this move is reasonable and not directed at crypto specially. KYC and AML is good to prevent money laundering. Glad to hear this news rather than a harsh ban.

This is a good initiative taken by Japan's financial agency. Improvements must always be done to make the system up to date. The improvements are made on Anti money laundering (AML) and Know your coins (KYC) .

This is really good news for the investors of the market of crypto currency. It proves that the market is getting more efficient and governments are also showing interest on this sector and so they are monitoring this sector. Such initiatives will discourage the scam coins to operate in the market.

IMO, I think AML and KYC are needed. It's the most important thing need to be done to prepare for cryptocurrency legalization :). If there are no AML and KYC requirement so I think it'll be impossible for cryptocurrency to be legalized in anywhere, any country by any government :)

Yeah at the very least their government or government agency are regulating the use of crypto exchanges in Japan and their are not opposed to it, unlike  some countries where they are banning crypto exchanges. Also it is for the protection of the users of such exchanges and I think Japan will soon legalize of cryptocurrency in their country.

Japan’s financial regulators have issued improved orders to six crypto-exchange exchanges. I strongly agree with the practice of Japanese financial regulators, which will make the cryptocurrency market healthier and more attractive to investors in the cryptocurrency market. advantageous

Good news from Japan. Such a small-step registration brings us closer to the optimal relationship between cryptography and the state. Let Japan be ahead of all, no one is against it in the world.

yes agree with you. KYC and AML, in my opinion it is indeed needed to make Crypto better. I will support if all existing markets apply the regulation.