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Nowadays, the illegal use of cryptocurrency is often a topic of conversation. As reported by officials from Japan, there were about 6000 cases suspected within a 10-month period related to the case of the recycling of cryptocurrencies. On Thursday, it was revealed that these 6000 cases from January 2018 to October 2018 are higher than 669 cases reported from April 2017 to December 2017.
Japan appears in first place among the countries, regulating cryptographic issues with various frameworks and effective execution seems to work now. With the established plans, the country's cryptocurrency exchanges are also supporting legal watchdogs to carry out their duties by reporting suspicious business activities.
National police agency stated that;
"We have seen some large-scale cryptocurrency theft and it is believed that traders are examining transactions more rigorously"
Because regulation over all cryptography is quite difficult compared to other financial transactions,
The National Public Safety Commission has stated that cryptocurrency can be rapidly transferred & # 39;in a highly anonymous way& # 39; and & # 39;0nce transactions are abused, cryptography monitoring is difficult& # 39 ;, adding that "the regulations on virtual currency are different in each country'.
Reports of such abusive transactions revealed that the Japanese user of the cryptocurrency exchange used to manage their accounts from the different country even if their addresses were in Japan. In addition, users seemed to provide the same photo for the identity verification document that had already been presented by many other users using different DOB names and names. In addition, police verification of suspicious transactions revealed that a foreign visitor has sold his account and his password encrypted to a user based in Japan.
Counting all financial transactions, the NPA has officially revealed that there are 346.13 cases reported with the problem of throwing money and other cases of abuse with the involvement of banks for many of these cases.
In addition to investigating such cases, Japan has also revealed the launch of the tax encryption system. As reported by a coingape, this new encryption system is designed to reveal tax evaders and let every person with less than 10 million yen have to reveal the source and pay the tax.
Summary
Item name
The Japanese police point out 6000 cases of recycling of cryptocurrencies from January to October 2018
Description
Nowadays, the illegal use of cryptocurrency is often a topic of conversation. As reported by officials from Japan, there were about 6000 cases suspected within a 10-month period related to the case of the recycling of cryptocurrencies. On Thursday, it was revealed that these 6000 cases from January 2018 to October 2018 are higher than 669 cases reported from April 2017 to December 2017.
Author
tabassum
Publisher name
Coingape
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The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication has no responsibility for personal financial loss.
