Financial Services Agency to Support Pilot Projects on Anti-Money Laundering Measures for Cryptocurrencies

Support from the Financial Services Agency

On the 27th, the Financial Services Agency announced its support for private sector pilot projects concerning anti-money laundering (AML) measures for cryptocurrencies and other assets.

In these pilot projects, businesses will collaborate to test a new framework for information sharing targeted at AML for cryptocurrencies, examining its effectiveness and legal issues. Following the completion of the pilot projects, the results and conclusions will be published on the Financial Services Agency's website.

What is Money Laundering?

Money laundering involves the process of making illegally obtained proceeds appear legal...