BitFlyer exchange closes registration of new users to “check documents” with old ones

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The representatives of the site information about their decision today, the terms are not called

The Japanese crypt exchange bitFlyer, which had previously received instructions from the country’s supervisory authorities to improve the quality of services, suspended registration.

The trading platform, according to its representatives, does not plan to accept new users until it completes a set of measures that bring its services in line with the requirements of the law. The claims of Japanese financial institutions relate primarily to the weakness of anti-money laundering measures taken on the stock exchange. The management decided to make its statement on this issue through a document published on the exchange’s website.

June 22, according to this document, the platform received an order from the Agency of Financial Services of Japan, with the requirement to verify each user (some of them may require documents). The new rules of operation concern only the Japanese divisions of the exchange: parts of the company based in the US will continue to operate in the standard model. To optimize the client verification process, bitFlyer temporarily closes the registration form.

The regulatory process, according to the representatives of the exchange, underlies the long-term prosperity of not only the exchange, the ecosystem of bitcoin, but the entire crypto-currency industry as a whole, so they intend to take seriously the requirements of legislators.

The Exchange does not advertise information about when the registration of new accounts will resume, but the appointed date of the report to the financial authorities of Japan is July 23.

Recall that on Tuesday the media already reported that the Japanese stock exchanges received a set of instructions from the supervisory authorities. Quarrels to the quality of work were then caused by the exchanges Quoine, Bitbank, BitPoint Japan and BtcBox – in addition to bitFlyer. All these exchanges have a Japanese license to conduct financial transactions and are subject to local legislation. The inspection of the supervisory authority revealed violations in the field of combating money laundering on these platforms.

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