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Japan: Suspicious Transactions of Virtual Currency Increased 8 Times

22:27 Wednesday , December 05th 2018
Citing news of Yahoo Japan, the number of suspicious transactions submitted by virtual currency exchanges to the government has reached 5,944 from January to October, which is 8 times than that of last year.
The suspicious transaction submission system was implemented in April, 2017. According to the National Police Agency, the surge in suspicious transactions is due to the fact that the implementation of the system requires a certain amount of time, and the system has been gradually strengthened under the guidance of the Financial Services Agency.
The article also pointed out that the large outflow of cryptocurrencies was caused by illegal transactions such as money laundering, drugs and child pornography.
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