To prevent Russia from using crypto assets such as Bitcoin to circumvent economic sanctions, the FSA and the Treasury have called on crypto asset exchanges to take action.
According to this, the Financial Services Agency and the Ministry of Finance have asked 30 crypto asset exchange companies to thoroughly confirm the recipient's address specified by the customer for crypto asset transactions with Russia, and then subject to economic sanctions. If it turns out, it is requested not to send it, if the destination is found to be subject to sanctions, it should be reported promptly to the Financial Services Agency and the Ministry of Finance, and the monitoring of transactions should be strengthened. ..
Europe, the United States and Japan impose sanctions on Russia, such as excluding some banks from SWIFT, an international payment network in which financial institutions from around the world participate, but instead of currency, Bitcoin etc. It has been pointed out that the use of crypto assets can be a loophole in sanctions.
It is said that it is difficult to grasp the actual situation of crypto asset transactions between individuals, but the Financial Services Agency and the Ministry of Finance are working with self-regulatory organizations in the industry to strengthen measures, and a series of sanctions will be imposed. I want to improve the effectiveness.