Japan’s Ministry of Finance will formulate cryptocurrency regulations for overseas remittances

According to the Nikkei news, the Japanese Ministry of Finance will formulate a cryptocurrency sea remittance spec. The Japanese Ministry of Finance believes that digital currency will be used for more cross-border, domestic goods and services transactions, so the specification should be easy to understand. Settlement transactions worth more than 30 million yen should be reported to the authorities. This specification will facilitate overseas transactions and will also combat money laundering.

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