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US asks Japan to put pressure on cryptocurrency exchanges and mining pools working with Russia

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American diplomats called on the Tokyo authorities to increase pressure on Japanese cryptocurrency exchanges and mining pools to sever ties with Russia. This request was made within the framework of Moscow's financial isolation and unstable political situation. Washington wants Japanese crypto companies to sever ties and further isolate Russia.

The US insists that Japanese crypto exchanges stop working in Russia

The request made by American diplomats is aimed at 30 licensed crypto exchanges in Japan that still maintain ties with the Russian Federation and serve its citizens. Representatives of the United States advised Tokyo to stop mining cryptocurrencies in the Irkutsk region. This region is the most popular among miners, as there is a huge amount of cheap electricity and a cool climate necessary for equipment.

Measures taken

Back in mid-March, the Japanese Financial Services Agency (FSA) asked exchanges to monitor any accounts and transactions related to the transfer of assets to Russia. Although the agency did not directly instruct the companies to exclude any operations related to Russia, some of them have already stopped working there. For example, the cryptocurrency exchange Decurret stated that it decided to suspend its activities in Russia after notifying the FSA.

The US request came after amendments were made to Japan's legislation on foreign currency and foreign trade related to cryptocurrencies and other digital assets. The amendments are aimed at strengthening Tokyo's powers to limit the flow of digital currency into and out of the country.

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