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ECONOMY

MOF proposes regulating cryptocurrency transactions

  • November 17, 2021
  • , Nikkei , p. 5
  • JMH Translation

On Nov. 16, the Ministry of Finance held a subcommittee meeting of the Council on Customs, Tariff, Foreign Exchange and Other Transactions and proposed regulating cryptocurrency transactions under the foreign exchange law as part of efforts to step up measures against money laundering. This will allow financial institutions to freeze cryptocurrency assets owned by people subject to sanctions based on United Nations Security Council resolutions in a way similar to freezing deposit transactions.

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