"All of Japan’s crypto exchanges will adopt the Financial Action Task Force (FATF)’s Travel Rule on April 1 – a move that means most of East Asia’s biggest trading platforms will have begun complying with the controversial protocol before the law even obliges them to do so."
"The Travel Rule essentially requires platforms to stamp out anonymity in crypto transactions in a bid to fight money laundering. At its heart, the rule seeks to create a web of data sharing whereby both the senders and recipients of all cryptoasset transfers have to exchange identifying information, flag suspicious-looking transactions, and inform regulators when they spot a transfer that looks out of place.""As of April 1, all crypto transactions made through exchanges in Japan will need to be accompanied by the following data:The recipient’s name, Data on the origin of the transaction (and whether or not the transaction originates from an exchange),Data on the recipient’s address, and information about whether or not the recipient’s wallet is hosted on an exchange"
"In a second step, to be put into place on October 1, more details on the recipient will also need to be provided, as well as information about the “purpose of the transaction,” although exact details are “yet to be decided upon.” }Further information will also be required of anyone conducting transactions worth over USD $865."
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