Japanese Exchanges Beef Up Requirements Amid G20 Summit
Hi there,
In this vlog I talk about some recent happenings with one of my Japanese crypto exchanges. Recently they have gotten extremely strict, asking for IDs again and checking address information. I recently found out the reason for this is the up coming G20 Summit that will be held in Japan over the weekend. Crypto exchanges on the island seem to be cleaning up house in preparation for announcements about regulations that will be laid out over the weekend.
It seems Japan is setting the stage and offering solutions at the upcoming G20 summit. Keep an eye out for news from the summit and if you have any significant amount of assets on exchanges I suggest you get them off, not because the exchanges will go down. But they might restrict what you can do until you resubmit various document and agree to new terms and conditions. This is what is happening to me on Bitflyer at the moment.
Here is a picture of the email they sent out.
Here is a link to their new requirements
This is not financial advice or intended to create FUD, this is just information I thought would be insightful.
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The G20 summit? Oh wow! Basically here when you don't showcase your ID most exchange don't even give you access at all no matter what time or event it is
Same here but this particular exchange is asking people to resubmit IDs and it is taking a couple days. Many new agreements to check off as well.
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Wow well I think it's for the betterment of crypto in general really, these things might be stressing but we'll we'd take it for the protection of fund
No doubt, want I didn’t like was the timing for me. Right when I saw an opportunity to sell a certain coin.
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Shit! hahaha that's definitely got to hurt hahahaha, well what would you do now?
Have to send my ID for the third time this week, this time I’ll scan the ID. I’m beginning to wonder if this exchange got hacked, because they aren’t allowing any new sign ups either and everyone got sent that email.
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Trying to watch your vlog but it keeps freezing after a few seconds kmt. Technology
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Yeah so it move more time. They need to fix that.