Japan pushes crypto exchanges to delay withdrawals

• Japan’s Financial Services Agency urged crypto exchanges to delay some withdrawals.
• The measure aims to stop scammers from moving stolen funds quickly.
• The request targets suspicious transactions linked to fraud cases.

Japan’s Financial Services Agency has asked crypto exchanges to delay some withdrawals when fraud is suspected, according to a report.

The request aims to stop scammers from quickly moving stolen crypto assets beyond the reach of investigators.

Exchanges may be asked to temporarily delay withdrawals linked to suspicious transactions and possible fraud cases.

The move is designed to improve fraud prevention and customer protection, and the Financial Services Agency is Japan’s financial regulator.

Japan has tightened oversight of crypto exchanges in recent years after several fraud and security incidents.

Regulators around the world have increased efforts to stop crypto scams by improving transaction monitoring and exchange compliance.