As reported by Cointelegraph, the Japan-based cryptocurrency exchanges will execute a Financial Action Task Force’s Anti-Money Laundering (AML) regulations named Travel Rule.
Sources revealed that on May 30, 2023, BitFlyer, Japanese crypto exchange, announced its incorporation of measures to enforce stricter AML standards for crypto transactions in Japan, added Cointelegraph.
It is believed that Coincheck is the only Japanese exchange to be associated with the TRUST network and can interact with bitFlyer. Supposedly, Coincheck and bitFlyer were supporting BTC transactions through TRUST, at the time of writing. More cryptocurrencies, including ETH and ERC-20 tokens, are expected to be available in future, bitFlyer explained.
It is expected that bitFlyer will support transactions through self-custody wallets such as MetaMask while implementing restrictions. Furthermore, BitFlyer did not respond to any comment, Cointelegraph concluded.
(With insights from Cointelegraph)
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