Japan Considers Stricter Crypto Regulations in Light of Russia Sanctions
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....
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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, […]
Estonia is preparing to enforce a set of new anti-money laundering rules that will stiffen requirements for crypto companies operating under Estonian license. The changes come amid concerns that Russia may use crypto to evade western sanctions and an ongoing audit of the Baltic nation’s AML policies.
Government of Estonia Creates Stricter Regulatory Environment for Crypto Businesses
Estonia, whose banking sector has in the past been implicated in the processing of billions for suspicious Russian clients, is now taking steps to close the loopholes that could allow Russia,....
Russia’s Bitriver, one of the largest operators of crypto mining data centers, may take legal action against the U.S. over the decision to place it under sanctions. The company insists it does not help the Russian government to circumvent international restrictions. Bitriver Rejects US Accusations as Unfounded, Sees No Legal Ground for Sanctions Leading Russian mining enterprise Bitriver is considering filing a lawsuit against the U.S. Treasury Department, which recently designated the Swiss-registered company and a number of affiliated entities in a new round of sanctions against....
The European Central Bank president Christine Lagarde called for quick approval of crypto regulations as war and crypto become intertwined and moral quandaries appear. Authorities fear Russia could use digital assets to bypass the sanctions imposed upon them. Europe depends on Russia for 40% of its natural gas supplies and this has put expected Swift […]
The new regulation will be designed to provide better protection to Japanese investors. Japan’s financial regulator, the Financial Services Agency (FSA), has started discussions around imposing stricter regulations for cryptocurrencies in an effort to provide better protection to Japanese investors.Back in July, the FSA established a dedicated section, as well as a panel of financial experts to help the government oversee digital and decentralized finance. The agency will also be responsible for keeping track of developments in cryptocurrencies and central bank digital currency (CBDC)....