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Japan FSA
2026-08-07 06:26:07

Japan’s FSA and police press crypto exchanges to adopt 11 anti-fraud measures

Japan’s Financial Services Agency and the National Police Agency have jointly asked the Japan Virtual and Crypto assets Exchange Association to tighten anti-fraud controls across the crypto trading sector, according to CoinPost. The request, issued on Aug. 6, covers exchanges of all sizes and sets out 11 measures focused on pre-registered withdrawal addresses, stricter transaction surveillance, stronger identity checks, and closer coordination with police. The move comes as investment scams conducted through social media and romance scams known as “pig-butchering” continue to rise, with some illicit proceeds reportedly flowing directly into exchange accounts. Under the new requirements, exchanges will need to verify the authenticity of identity documents submitted at account opening, warn users that buying and selling accounts is illegal, and restrict withdrawals for a certain period after fiat deposits or crypto purchases. New withdrawal addresses must be screened before activation, and withdrawal limits are to be set based on customer risk assessments and transaction purposes. Exchanges are also expected to respond quickly to suspicious transactions, including by restricting trading or freezing accounts when necessary.

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Japan’s FSA and police press crypto exchanges to adopt 11 anti-fraud measures
Japan
2026-08-07 05:34:58

Japan FSA, Police Jointly Push JVCEA for 11 Anti-Fraud Measures at Exchanges

Japan's Financial Services Agency (FSA) and the National Police Agency have sent a joint letter to the Japan Virtual Currency Exchange Association (JVCEA), demanding that crypto exchanges strengthen anti-fraud protections, ChainCatcher reported, citing CoinPost. The letter outlines 11 specific requirements, including pre-registration of withdrawal addresses, stronger transaction monitoring, and stricter identity checks at account opening. Exchanges would also be required to impose withdrawal limits for a set period after users deposit fiat or purchase crypto assets. The move comes as investment scams and “pig-butchering” fraud spread rapidly on social media, with criminals increasingly using crypto accounts to move illegal funds. The FSA suggests exchanges set withdrawal caps based on customer risk levels and transaction purposes, freeze or restrict accounts immediately upon detecting suspicious activity, and improve intelligence sharing with police. System upgrades that cannot be implemented quickly may be phased in. Separately, the FSA has formally established a “Crypto Assets and Stablecoins Division” to oversee related regulation.

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Japan FSA, Police Jointly Push JVCEA for 11 Anti-Fraud Measures at Exchanges