Process Transactions Involving Russian Assets

March 14. 2022
On Monday, Japanese authorities directed cryptocurrency exchanges to refrain from processing transactions involving digital assets that are liable to asset freeze restrictions on Russia and Belarus over the Ukraine war.

The move comes in response to a Friday Group of Seven (G7) statement in which Western nations announced they would enforce penalties on illegal Russian individuals who use crypto assets to transfer their wealth.

To punish Russia for its invasion of Ukraine, the United States, the European Union, and other allies increased their economic pressure on the country on Friday. Among the actions taken were measures to remove Russia from special trade and economic considerations.
The latest actions, according to US President Joe Biden, will collectively impair Russia’s financial structure that is already reeling from previously announced international sanctions, which have depreciated its currency and forced its stock exchange to shutter.

Source: BITCOINIST