Japan Blockchain Association proposes to share personal information between virtual currency service providers in response to new FATF regulations

According to Crypto.Watch, the Japan Blockchain Association (JBA) held a regular meeting on July 9. The Association’s Trust Representative and BitFlyer President Ghana Yusan summarized the V20 meeting held at the end of June and the G20 Summit. As a JBA representative, Ghana Yusan also proposed measures to deal with the “Travel Rule” and was recognized by other participants. Ghana Yusan proposes to replace personal information with hash data, and then the recipient's VASP (virtual money service provider) compares the sender's personal information. This method applies to both the EU General Data Protection Regulations (GDPR) and the FATF. The regulations have thus been recognized by everyone.