Thirteen Japanese companies collaborate to enhance anti-money laundering measures in cryptocurrency trading.

Thirteen Japanese companies are collaborating on an empirical experiment to enhance the effectiveness of anti-money laundering (AML) measures in cryptocurrency trading. According to a report by CoinDesk, Hitachi and 12 other companies related to digital asset trading in Japan announced that they will begin an empirical experiment in February 2025 to improve the efficacy of AML measures in transactions involving digital assets such as cryptocurrencies, stablecoins, and NFTs. During the experiment, the money laundering-related information collected and analyzed by each company will be shared on a dedicated platform provided by Hitachi. The analysis results will be fed back to the companies and used for AML operations in domestic blockchain transactions, thereby validating the actual effects of improved AML accuracy and reduced costs. The participating companies include NTT Digital, Optage, Crypto Garage, JPYC, Chainalysis Japan, Digital Platformer, NEC, Nomura Holdings, Bitbank, finoject, North Country Bank, and Laser Digital Japan. Currently, digital asset trading companies are independently facing regulatory challenges, dealing with issues such as high costs and a lack of specialized personnel in AML operations. Meanwhile, it is anticipated that strengthened regulations in the future will bring additional challenges. This experiment aims to address these issues through the sharing of systems, talent, and information. The experimental period is from February to April 2025.