Gate News message, April 28 — Japan’s Ministry of Land, Infrastructure, Transport and Tourism, Financial Services Agency, National Police Agency, and Ministry of Finance jointly issued guidance today clarifying regulatory requirements for cryptocurrency use in real estate transactions and strengthening anti-money laundering (AML) obligations.
Real estate transaction businesses must recognize that converting cryptocurrency to fiat currency or intermediating such conversions may constitute cryptocurrency asset trading business activities. Conducting such activities without proper registration violates the Payment and Settlement Act. When discovering suspected unlicensed cryptocurrency asset trading operations, businesses must report to police. Real estate transaction businesses accepting cryptocurrency payments must strictly fulfill AML due diligence obligations and submit suspicious transaction reports to relevant authorities as required.
Cryptocurrency trading businesses face parallel obligations: when clients use cryptocurrency to pay for large real estate transactions that appear inconsistent with their profile, they must conduct enhanced verification and file suspicious activity reports.
Additionally, individuals receiving over 30 million yen equivalent in cryptocurrency from overseas, and non-residents acquiring domestic real estate, must file required reports with relevant authorities.
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