Japanese Ministry of Finance is going to prepare rules for cross-border transfers of digital money
The Ministry of Finance of Japan is going to prepare in the near future rules for the foreign transfer of digital money.
According to the report of the newspaper Nihon Keizai on April 5, the Ministry of Finance plans to introduce rules under which notice to the authorities should be strictly mandatory if the cost of transferring money for a foreign transfer is more than 30 million yen.
It is said that the decision of the Ministry of Finance will facilitate the consideration of the real situation with operations abroad and is designed to curb money laundering operations.
Source: Alpari
The Ministry of Finance of Japan is going to prepare in the near future rules for the foreign transfer of digital money.
According to the report of the newspaper Nihon Keizai on April 5, the Ministry of Finance plans to introduce rules under which notice to the authorities should be strictly mandatory if the cost of transferring money for a foreign transfer is more than 30 million yen.
It is said that the decision of the Ministry of Finance will facilitate the consideration of the real situation with operations abroad and is designed to curb money laundering operations.
Source: Alpari
I think it is good news as it will at least help restrict the money laundering stuff that destroying the economy of the nation. However is it just related to the fiat digital relation or whether the report says all about the crypto currencies transfer? Because if thats the case then it would be interesting to know how they are going to regulate that transfer? You do realise that transfer if the crypto currency is completely over the blockchain and government can not really track it down or stop it form happening. Its not like we take permission from anyone and then make the transfer, unlike the banks! So it must be related to the digital currency which is fiat being transferred electronically from their country to other one. If thats the case then it doesn't hamper the crypto currencies at all.
