Japan’s regulator suggests 'stopping' P2P transfers from fiat to crypto
The Financial Services Agency and the National Police Agency encourage banks to “further strengthen their user’s protection.”
The Financial Services Agency (FSA) — Japan’s principal financial regulator — has suggested several measures to protect the users from “unlawful transfers” to crypto exchanges. One of them may seriously complicate the peer-to-peer (P2P) transactions market.
On Feb. 14, the FSA published a request addressed to Japanese banks. According to the regulator, the number of fraudulent transactions in the country remains high, and most involve crypto assets.
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