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Numerous Suspicious Crypto Transactions Reported To The Police In Japan.

In line with a recent news article ‘published‘ by ‘Jiji.com,’ there has been a major wave of reports of suspicious crypto transactions to the police in Japan.

As per the report, the National Police Agency [NPA] have disclosed that there are 5,944 reports to the Japanese Police concerning suspected illicit usages of cryptocurrencies, like Money Laundering, terrorism fundings etc between Jan. and Oct. this year.

By comparison, the quantity of such reports last year numbered just around 669, however their number has exaggerated “after the implementation in April of a law obliging the [cryptocurrency exchange] operators to file a report to the police if they observe dubious digital currency transactions.”

An NPA official declared that such an “increase indicates that the operators became alert on a wide-side to the filing obligations.”

As ‘reported‘ earlier, the Japanese govt. is reconsidering several ways in which it can stop individuals from tax evasions of profits earned from cryptocurrency transactions. In line with the resources acquainted to this matters, the govt is considering a system that might let the National Tax Agency obtain important information from cryptocurrency dealing intermediaries concerning crypto users.

As reported by EtherDesk earlier this week, Japanese Financial Services Agency [FSA] is planing up with the introduction of stricter ICO [Initial Coin Offering] rules in an attempt to shield its investors from fraud.

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