Japan Financial Services Agency Requires Cryptocurrency Exchanges and Other Institutions to Halt Use of ID Images for Identity Verification Ahead of Schedule
According to NADA NEWS, Japan's Financial Services Agency (FSA) has instructed financial institutions, including cryptocurrency exchanges, to promptly cease using images of identification documents such as driver's licenses for identity verification (KYC), and switch to a new verification method that reads integrated circuit (IC) chip information via smart devices.
