Japan's Financial Services Agency Expresses Concern Over Crypto Exchanges Promoting High-Fee 'Brokerage' Models

Japan's Financial Services Agency has expressed concern over cryptocurrency exchanges encouraging users to adopt high-fee 'brokerage' (Retail Brokerage) models rather than standard exchange order book systems, according to CoinPost.

The agency noted that under amended anti-money laundering regulations effective April 1, 2027, face-to-face and remote account openings at exchanges will require IC chip-based identity verification, replacing the current system entirely.