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All you Should know about the Money laundering cases tied to Bitcoin in Japan

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Japanese Police Are Reviewing 669 Alleged Money Laundering Cases Tied to Cryptocurrency Trading Platforms.


The Japanese police told the press this week  that they are reviewing 669 cases that involve possible money laundering and cryptocurrency exchanges. The cases stem from transactions that took place between April and December of 2017.

Coincheck hack where 58 billion yen ($540 million) worth of the cryptocurrency NEM was lost due to a hack. Coincheck was not among the 16 licensed exchanges in Japan and was waiting for licensure approval. 32 

According to the findings, 2017 cases was even fewer compared to year prior. The National Police Agency also explained that suspected money-laundering cases involved with digital currencies have dropped compared to AML/KYC matters found in 2016. Last year there were 400,043 AML/KYC investigations and that metric was 1,048 cases less than the year before.


What do you think Japanese authorities would do if the police investigation is true? Do you see any threat await crypto in the country? Drop you comments below and subscribe to our newsletter for more updates. 

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