BitFlyer Implements New Restrictions to Comply with FATF’s ‘Crypto Travel Rule’
May 31, 2023
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Japan Based Crypto exchange bitFlyer embraces the FATF’s ‘Crypto Travel Rule’ with the updated regulations. These restrictions are imposed on 21 countries including Japan, Gibraltar, Hong Kong, Switzerland & The Bahamas.
These restrictions came into effect yesterday that restrict transfers from crypto exchanges to platforms that are non-compliant with Travel Rule Universal Solution Technology (TRUST). The above-mentioned 21 countries are an updated list of restricted/regulated ones where BitFlyer has shown stringency in its own operations by restricting transfers of crypto assets including BitCoin, Ethereum, and ERC-20 Tokens.
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According to the recently updated Crypto Travel Rule guidelines, crypto transfer to and from BitFlyer can only use Coincheck and in the case of a TRUST-compliant platform in Japan, they can transact via Bitcoin.
Japan has recently become a staunch adherent to AML guidelines, especially the ones by the FATF travel rule in the case of cryptocurrency. The country also recommended at the G-7 summit that flourishing economies should join hands to combat Money Laundering through digital assets.
Find out more Crypto Exchange bitFlyer Aligns Itself With FATF ‘Travel Rule’ With New Restrictions
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