FSA Asks Japan Crypto Exchanges to Delay Withdrawals Amid Scam Rise
Japan's Financial Services Agency (FSA) has requested that cryptocurrency exchanges introduce withdrawal delays and additional safeguards to combat scams. The FSA jointly made this request with the National Police Agency, citing growing losses among crypto exchange users.
The proposed measures include restricting cryptocurrency withdrawals for a specified period after customers deposit fiat currency or purchase digital assets. Exchanges have also been asked to require customers to register withdrawal addresses in advance and introduce a waiting period before newly registered addresses can be used.
The FSA has not made these measures binding regulations, instead allowing exchanges to decide how to implement them based on their individual operations and services.