Japan plans to amend its Exchange and Foreign Trade Act to prevent Russia from circumventing sanctions via crypto.
According to a report by Reuters, Japanese Prime Minister Fumio Kishida will overhaul the stock market law to prevent Russia from circumventing sanctions through crypto. Kishida called for amendments to the law in question and said that revisions would be submitted to lawmakers as soon as possible. The revisions aim to strengthen protection against Russia trying to evade sanctions through crypto assets.
Earlier this month, Japan’s Financial Services Agency and Ministry of Finance called on nearly 30 crypto exchanges not to conduct crypto transactions in relation to sanctions.
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