Miyazaki Police re-arrest three suspects for unregistered crypto trading

Miyazaki Prefectural Police have re-arrested three men on suspicion of conducting cryptocurrency transactions without the required national registration. The suspects include Tokyo-based company executives Daiki Shimizu and Hideaki Shimizu, along with Masahiko Kakuo from Chiba Prefecture.

Authorities allege that Daiki and Hideaki Shimizu converted approximately 53.9 million yen in cash from four customers into cryptocurrency across 90 transactions, earning an estimated 1.03 million yen in fees. Additionally, Daiki Shimizu is suspected of working with Kakuo to convert roughly 19.35 million yen in cash into cryptocurrency, generating approximately 620,000 yen in profit. The police are continuing their investigation into further potential offenses.