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Japan Greenlights Tougher Anti-Money-Laundering Rules for Crypto
A cabinet decision to revise six foreign-exchange laws closely follows a government plan to introduce new rules for remittances, all aimed at tightening AML measures for crypto.
Updated Oct 17, 2022, 2:40 p.m. Published Oct 17, 2022, 1:28 p.m.
Japan's government has approved a cabinet decision to amend existing laws to curb money laundering using crypto, according to local news reports.
- The cabinet, which is Japan's executive body, made the decision to move forward with the changes to the country's Foreign Exchange Act and the Act on Prevention of Transfer of Criminal Proceeds on Friday, Bittimes reported over the weekend.
- The cabinet decision follows a Nikkei report from September that said the government was planning to revise the Act on Prevention of Transfer of Criminal Proceeds targeting remittances in an effort to stop criminals from using crypto exchanges to launder money.
- Japan has been looking to implement anti-money-laundering standards recommended by the Financial Action Task Force, a global watchdog, since last year, while local crypto exchanges have been fighting to limit the rules' scope, citing compliance burdens and costs.
- The new amendments order crypto exchanges to share information like customers' names and addresses when transfers are made between platforms, and could introduce penalties for entities that violate those rules.
- The revisions, which were approved by the cabinet, are now scheduled to be submitted to the National Diet, Japan's legislature, the report said.
Read more: Japan to Toughen Remittance Rules to Fight Money Laundering Using Crypto: Report
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- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Canadian Province Wins Forfeiture of $1M QuadrigaCX Co-Founder's Cash, Gold via Default Judgment
The ruling transfers cash, gold bars, watches, and jewelry seized from a CIBC safety deposit box and bank account into government hands after Patryn did not defend the case.
Bilinmesi gerekenler:
- The Supreme Court of British Columbia has forfeited $1 million in cash and gold tied to QuadrigaCX's co-founder, Michael Patryn, to the government.
- Patryn did not contest the forfeiture, which involved 45 gold bars, luxury watches, and over $250,000 in cash seized under an Unexplained Wealth Order.
- The forfeiture may lead to a process determining if any assets can be directed to QuadrigaCX's creditors, who received 13 cents on the dollar in the bankruptcy settlement.
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