Japan FSA and NPA Mandate Stricter Crypto Withdrawal Rules to Curb Scams

Japanese authorities urge JVCEA to enforce pre-registered withdrawal addresses and enhanced monitoring, targeting rising social media investment and romance scams.

Woofun AI reports that Japan’s Financial Services Agency and National Police Agency have formally requested the Japan Virtual and Crypto Assets Exchange Association to implement stricter anti-fraud measures. The 11-point plan mandates pre-registration of withdrawal addresses and enhanced transaction monitoring to prevent unauthorized transfers linked to social media scams. These protocols aim to add verification layers, slowing fund movement by scammers while reinforcing existing AML and KYC standards for exchanges operating in Japan.