Ukraine Invasion: Japan orders crypto exchanges to restrict transactions with Russia, Belarus

Japan’s Ministry of Finance has ordered crypto exchange platforms not to process transactions subject to the sanctions against Russia and Belarus.
In a joint statement by Japan’s Ministry of Finance and Financial Services Agency, Japan will work to prevent the transfer of funds in violation of the sanctions using crypto assets.
“We decided to make an announcement to keep the G7 momentum alive,” Reuters quotes a senior official at Japan’s Financial Services Agency as saying. “The sooner the better.”
Reuters reports that the order was made in compliance with the G7 announcement placing sanctions on the Russian government to end the ongoing military attacks in Ukraine
Japan’s move follows the United States Treasury Department issuing new regulations on Friday that mandates U.S.-based cryptocurrency firms not to engage in transactions with sanction targets.
The FSA added that unauthorized payments to those sanctioned, even with digital assets, whether NFTs or crypto, will attract punishment ranging from a 1 million yen ($8,478.52) fine or 3 years imprisonment.
Crypto exchanges such as Coinbase have already supported the legal sanctions against Russia as a part of their goal to protect the integrity of all their transactions.
Peoples Gazette reported last week that Coinbase had blocked 25,000 accounts associated with Russian users believed to be involved in illicit activity.
More from Peoples Gazette

Economy
Buhari regime will continue to borrow without subsidy removal: Femi Adesina
“You know how much could have been saved if the subsidy was removed and how it could have been diverted to other areas and spheres of national life.

Politics
I’ve begged Okorocha for forgiveness: Uzodinma
“If I have done anything that does not go down well with him or anybody, forgive and forget.”

States
Chinese nationals abducted in Niger to regain freedom soon: Commissioner
The abducted Chinese who were working with a construction firm handling Zungeru Hydro Dam project were kidnapped three months ago.

Politics
I didn’t shower for three days just to keep Obaseki as governor: Wike
Mr Wike also accused Mr Obaseki of being ungrateful to the PDP and those who supported his re-election after he defected from the APC.

Economy
Nigerian airlines to shut down in three days over historic energy crisis: Allen Onyema
“We have only three more days, all airlines in Nigeria will shut down,” the Air Peace CEO said. “We are not threatening this country, it is a fact.”

World
Israel says it won’t serve as route for Russia to circumvent sanctions
Since Russia’s invasion of Ukraine, Western countries have repeatedly accused Israel of not doing enough to support Ukraine.

Politics
We’re not giving up on Lagos4Lagos Movement, other defected members: APC
APC said it’s in touch with aggrieved former party members and is doing everything to bring them back to the party.