Bitflyer Contests Reports of Insufficient Customer Verification Process

Japan’s largest cryptocurrency trade Bitflyer has contested media experiences that the Japanese monetary regulator has deemed its consumer verification course of to be inadequate. Nonetheless, the trade admitted to being in talks with the authority and has applied further measures.

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Reports of Monetary Regulator’s Issues

The biggest Japanese crypto trade by quantity, Bitflyer, has issued a press release in response to media experiences that the Monetary Providers Company (FSA) has requested the trade to strengthen its consumer verification process after figuring out it to be inadequate.

Nihon Keizai Shimbun reported final week that, in contrast to many different exchanges in Japan, prospects had been in a position to commerce cryptocurrencies at Bitflyer “even with inadequate identification verification.” In accordance with Japanese legislation, prospects should mail verification doc to the trade as half…

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