Japan Prepared a Bill to Prevent Russia’s Attempts to Avoid Sanctions Using Crypto

The Japanese government intends to make changes to the currency legislation in order to prevent Russia from evading the sanctions imposed on it with the help of digital assets.

According to Reuters, the Japanese authorities intend to introduce an updated law “on foreign exchange and foreign trade” at the current session of parliament.

According to Cabinet Secretary General Hirokazu Matsuno, the amendments will supposedly allow the law to be applied to crypto exchanges and oblige them to carefully check whether their clients are under sanctions.

After the Russian invasion of Ukraine, Japan became one of the many countries that imposed sanctions against the Russian Federation, and one of the first to consider the issue of closing access to cryptocurrencies for Russians.

On February 24, Russia invaded Ukraine on several fronts, shelling Kharkiv, Kyiv, Sumy, Chernihiv, Vinnytsia and other cities of various calibres.

The Ukrainian army is holding back the invasion of the enemy. From the hottest spots, the civilian population is trying to evacuate to other cities or even countries.

The world community organized to help the refugees and the Ukrainian army. Only the crypto community has transferred billions of dollars to help Ukrainians.

The BTC-Alpha team together with trusted volunteer communities created a charity fund ‘Alpha for Ukraine’. You can make a donation to help everyone in Ukraine who needs medicines, humanitarian aid and to support the defence of the country.

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