Multiple Japanese government departments jointly issued a document clarifying the rules for the use of cryptocurrencies in real estate transactions and strengthening anti-money laundering obligations.

CoinFeed reported on April 28 that Japan's Ministry of Land, Infrastructure, Transport and Tourism, Financial Services Agency, National Police Agency, and Ministry of Finance jointly issued a document today outlining the following requirements for real estate transactions using cryptocurrencies: Real estate transaction operators must be aware that exchanging cryptocurrencies for fiat currency or brokering such exchanges may constitute a cryptocurrency trading business, and engaging in this business without registration will violate the Funds Payments Act. Any suspected unlicensed cryptocurrency trading activities should be reported to the police. When accepting cryptocurrency payments, real estate transaction operators must strictly adhere to the transaction verification obligations stipulated by the Anti-Money Laundering Law and submit suspicious transaction reports to the relevant authorities in a timely manner. Cryptocurrency trading operators must also fulfill strict verification and reporting obligations when they discover that clients have paid large sums of real estate transaction funds in cryptocurrency that do not match the client's profile.