US Calls for Japan to Pressure Crypto Miners to Cut Ties with Russia

by in Cryptocurrency News

Japan Russia crypto

The USA urged Japan to put pressure on the country's cryptocurrency exchanges and miners to cut links with Russian crypto operators as a part of Moscow's financial isolation. US diplomats made the request related to the officially licensed crypto exchanges that are operating in Russia.

Related: Japanese crypto exchanges and services will stop serving Russians

A report by Financial Times says that people standing close to the matter informed that the US request was focused on halting crypto operations based in Siberia's Irkutsk oblast (region). This area is beneficial for crypto miners due to its relatively low temperatures and affordable hydroelectric power.

According to the source, Japan's Financial Services Agency updated its demands, requiring local exchanges to cut any remaining relationships.

The US state department told FT that Washington and its allies are united in their goal to hold Russia on account for the war against Ukraine. Officials added they will continue to evaluate the impacts of their steps and take more measures.

Japan responded to the war before. In March, the country's Financial Services Agency asked crypto exchange platforms to monitor addresses and activities involving the movement of assets of sanctioned individuals and entities.