Japan regulator clarifies stance on peer-to-peer crypto transfers
The FSA says its recommendations don't envisage “any transactions from one individual to another.”
The Financial Services Agency (FSA) — Japan’s principal financial regulator — has clarified its position on peer-to-peer (P2P) crypto transactions following its latest recommendations to local banks.
In its letter on Feb. 14, the FSA encouraged banks to “further strengthen their user’s protection” by “stopping transfers to crypto-asset exchange service providers if the sender’s name is different from the account name.” As Cointelegraph noted, such a formulation might compromise the P2P transfers in the country since they usually feature two different users on the sender and the receiver ends.
Responding to a Cointelegraph inquiry, the FSA specified that its recommendation don't envisage “any transactions from one individual to another:”
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