Japan plans to strengthen control over cryptocurrency exchanges

by in Cryptocurrency News

Japan

The Japanese government plans to amend the legislation on currency regulation. In parallel, it plans to strengthen control over cryptocurrency exchanges and services as part of compliance with the sanctions legislation.

According to Cabinet spokesman Hirokazu Matsuno, Japan will adhere to a policy of financial restrictions on certain countries and will not allow the criminal use of digital currencies.

Local bitcoin exchanges will be required to track the movement of funds in tokens and reject the transactions of users on the sanctions lists.

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First of all, accounts associated with Russian officials, oligarchs and banks will be blocked.

In mid-March, it became known about the negotiations between the Japanese government and crypto companies.

Tokyo calls on exchanges and exchangers to completely stop serving individuals and legal entities that are under sanctions.