Japan to toughen crypto rules to make sanctions on Russia effective

Japan will toughen regulations on cryptocurrency exchanges, requiring them to check whether recipients of transactions are subject to financial sanctions imposed following Russia's invasion of Ukraine, government sources said Wednesday.The move, which will be part of the envisaged amendment of the foreign exchange and trade law, is aimed at preventing cryptocurrencies from being a loophole to sidestep such sanctions, the sources said.Concerns have been growing that cryptocurrencies may be used to water down some sanctions against Russia after the country was excluded from a key internationa…READ FULL ARTICLE