Japanese regulators want private sector's help to fight crypto money laundering [Yahoo! Finance]
RAKUTEN GROUP INC S/ADR (RKUNY)
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Source: Yahoo! Finance
Japan's Financial Services Agency said last week it would support private businesses' efforts to conduct crypto AML-related pilots over the next three months. “Globally, there is a consistent pattern emerging where the private sector increasingly executes AML operationally because it owns the data, technology, and transaction layers,” Aleksander Gora, the head of identity and digital trust at the security provider Teranode Group, told DL News “Governments will continue to define the regulatory framework, while execution shifts toward those closest to the transactions themselves.” Japanese firms are gearing up for a major crypto pivot in Tokyo, which has indicated it wants to fully integrate crypto into the financial sector mainstream by 2028. Heavy-hitters join pilots The FSA says several leading domestic crypto exchanges, including GMO Coin and Bitbank, will take part in the pilots, along with the Japanese branch of blockchain analysis firm Chainalysis. Other heavyweight
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