Japan's FSA Urges Crypto Exchanges to Adopt IC Chip Verification Ahead of Deadline
- —FSA requires migration to IC chip reading before April 1, 2027
- —Triggered by leaks of customer identity document images
- —Exchanges accepting photo documents must overhaul account opening
- —FSA also published a list of unlicensed crypto exchanges, including Bybit
Why it matters: Japanese crypto exchanges will have to rework their KYC procedures, potentially slowing new customer onboarding.
Source: CoinPost