US Asks Japan to Pressure Crypto Exchanges, Miners Working With Russia, Repor...
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....
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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....
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....
Japan’s top financial regulator has asked cryptocurrency exchanges in the country not to process transactions subject to asset-freeze sanctions. The penalty for unauthorized payments to sanctioned persons includes three years in prison.
Japan’s Financial Regulator and Ministry of Finance Ask Crypto Exchanges to Comply With Sanctions Restrictions
Japan’s top financial regulator, the Financial Services Agency (FSA), announced Monday that the country will contribute to international sanctions efforts surrounding Ukraine following its attack by....
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, […]
New details have emerged about a proposed regulatory framework for bitcoin exchanges in Japan. As reported yesterday, a working group within the country's Financial Services Agency (FSA), its top finance regulator, has developed a series of recommendations for overseeing exchanges in the country. The proposal is said to be moving toward completion, and will be submitted to Japan's national legislature, the Diet, for consideration next year. The working group is part of a body within the FSA called the Financial System Council. When asked for comment, the FSA provided CoinDesk with a....