US diplomats call on Japan's crypto exchanges to cut ties to Russia: Report
The FSA and Japan’s Finance Ministry previously warned crypto firms against processing transactions involving sanctioned individuals or entities, subject to fines or imprisonment. Officials representing the United States government have reportedly urged Japan’s licensed cryptocurrency exchanges to stop doing business with Russia, seemingly as part of the country’s economic sanctions.According to a Thursday report from the Financial Times, U.S. diplomats requested several of the 31 crypto exchanges licensed to do business in Japan and certain miners to halt operations in Russia. Japan’s....
Related News
U.S. diplomats have reportedly called on authorities in Tokyo to increase pressure on Japanese crypto exchanges and miners to sever links to Russia. The request was made to deepen Moscow’s financial isolation amid the ongoing Russian assault on Ukraine. Washington Wants Japan’s Crypto Companies to Cut Ties, Further Isolate Russia The United States has urged Japan to put more pressure on cryptocurrency exchanges and mining companies that continue to work with Russians. The U.S. wants the Japanese entities to end their business relations with Russia, thus adding to its....
Per a report from the Japan Times, the Asian country has started to discuss ways in which Russia could use crypto to escape sanctions. The Russian Federation has been hit by the international community after the consummation of their invasion of Ukraine. Related Reading | Should Crypto Exchanges Ban Russian Users? Kraken CEO’s Opinion Thus, […]
Authorities in Japan are planning to introduce tougher new rules for crypto operators as part of efforts to prevent Russia from using cryptocurrencies to evade sanctions. The legislative initiative comes after Tokyo asked digital asset exchanges to strengthen transactions monitoring this month.
Government of Japan to Close Loopholes for Russians in Crypto Space
Amid concerns that Russia and its elites may employ cryptocurrencies to circumvent international sanctions, Japanese authorities are going to stiffen regulations for cryptocurrency exchanges. The platforms will be....
India’s central bank, the Reserve Bank of India (RBI), has reportedly informally asked banks to cut ties with cryptocurrency exchanges and traders. Some banks in India have limited their exposure to the crypto market and some plan to stop all crypto-related transactions. RBI Asking Banks to Cut Ties With Customers Dealing With Cryptocurrencies The Indian central bank has informally urged lenders “to cut ties with cryptocurrency exchanges and traders,” Reuters reported Thursday, citing three unnamed sources. The news outlet quoted a senior bank executive as saying: The....
Japan and Portugal announce approval of new cryptocurrency exchanges in the nations. Portugal has approved two exchanges so far, while Japan has allowed Coinbase to function within the country. Japan Approves Coinbase Coinbase can finally start operations in Japan as the country’s top financial regulator has approved the organization within the nation. As of this […]