Japan’s Biggest Cryptocurrency Exchange Suspend New Accounts amid Stricter Regulation

Since earlier this year, the Japanese government and local authorities have continuously cracked down on anonymous cryptocurrencies Monero, Zcash, and Dash, and the usage of digital assets in financing black market operations such as drug trafficking and distribution.

On June 16, the Japanese financial authorities asked the Financial Action Task Force (FATF) to implement unified crypto regulations to oversee digital asset exchanges internationally with the same standard and policies. The intent behind Japan’s call for unified cryptocurrency exchange regulations was in its plans to prevent the usage of anonymous cryptocurrencies.