PUBLICATION OF THE PARTIAL AMENDMENT TO THE DESIGNATION OF A COUNTRY OR REGION UNDER ARTICLES 17-2 AND 17-3 OF THE ORDER FOR ENFORCEMENT OF THE ACT ON PREVENTION OF TRANSFER OF CRIMINAL PROCEEDS.

TOKYO, April 25 -- Financial Services Agency issued details of the following press conference:

Japan has imposed notification obligations (i.e. travel rule) on Cryptoasset Exchange Service Providers and Electronic Payment Instruments Service Providers (hereinafter collectively referred to as "VASPs") to submit information on originators and beneficiaries at the time of transfer of cryptoassets ("VAs")/electronic payment instruments (i.e. stablecoins, "SCs") to make it possible to track the transaction routes of VAs/SCs.

Given the ineffectiveness of the regulation where relevant requirements in the legal system of the counterparty country or region (i.e. jurisdiction) is not in place, Japan has limited the scope of the travel rule to trans...