Japan Financial Services Agency and National Police Agency jointly request crypto asset exchange operators to strengthen withdrawal restrictions, proposing 11 anti-fraud measures

TechFlow news, August 6, according to CoinPost reports, the Japanese Financial Services Agency and the National Police Agency jointly issued a request to the Japanese Virtual Currency Exchange Association (JVCEA), requiring all crypto asset exchange service providers to strengthen withdrawal restrictions to prevent fraud victimization, proposing a total of 11 new measures. The main contents include: implementing a pre-registration system for withdrawal destinations, setting withdrawal restrictions for a certain period after fiat currency deposits or crypto asset purchases, setting withdrawal limits based on customer risk assessments, and strengthening transaction monitoring and information sharing linkage mechanisms with prefectural police. The background is the continued expansion of victims from social media investment solicitation and romance scams such as "pig butchering" scams, with criminal methods becoming increasingly complex.