Japanese Crypto Exchanges Will Comply With Sanctions Against Russia

The Japanese government has banned local cryptocurrency exchanges from processing transactions with assets subject to sanctions against Russia and Belarus.

According to Reuters, a joint statement from the government and Japan’s financial regulator and supervisory authority talks about strengthening oversight of compliance with sanctions measures. Violators of this order are subject to imprisonment for up to three years or a fine of 1 million yen ($8,488).

This decision was made by the Japanese authorities after the statement of representatives of the G7 countries about the creation of costs that will prevent entities from Russia that fell under sanctions from using digital assets to increase and transfer their capital.

Prior to this, the US Department of the Treasury put a similar requirement for cryptocurrency platforms registered in the country. The European Union has also included crypto assets in a package of sanctions against Russia.

On February 24, Russia carried out a paramilitary invasion of 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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