Crypto asset regulation

Japan’s Justice Ministry is reportedly considering a revision of an asset seizure law relating to organized crime to include a stipulation that crypto can be commandeered in such instances. If the reports are found to be true, a potential revision of the Act on Punishment of Organized Crimes and Control of Proceeds of Crime (1999) would enable law enforcement officers and courts to take control of crypto assets used in criminal activity such as money laundering. According to reports from local media outlets such as the Yomiuri Shimbun on June 4, the Justice Ministry will first need to engage in talks with the Legislative Council on the issue before proceeding forward. While it will also need to iron out important details such as how officers can go about obtaining a criminal’s privat...