Japan has imposed notification obligations (i.e. travel rule) on Cryptoasset Exchange Service Providers and Electronic Payment Instruments Service Providers (hereinafter collectively referred to as “VASPs”) to submit information on originators and beneficiaries at the time of transfer of cryptoassets (“VAs”)/electronic payment instruments (i.e. stablecoins, “SCs”) to make it possible to track the transaction routes of VAs/SCs.
Given the ineffectiveness of the regulation where relevant requirements in the legal system of the counterparty country or region (i.e. jurisdiction) is not in place, Japan has limited the scope of the travel rule to transfers to foreign VASPs located in jurisdictions that have regulations equivalent to the travel rule requirements in Japan.
In light of the implementation status of travel rules in each jurisdiction, Japan adds 30 jurisdictions to the scope of the requirements (see 
the Attachment for details). Information on the Travel Rule requirements in Japan is also available here.
Public comments will be accepted until 6:00 p.m. [JST], May 25, 2025
