Japan Prepares FEFTA Amendment to Prevent Russia From Using Crypto LoopholesThe initiative is part of the ‘coordinated moves’ to strengthen financial sanctions against Russia for its invasion of Ukraine.
The amendment to the Foreign Exchange and Foreign Trade Act has been planned to ensure Russia doesn’t bypass the international financial sanctions by using digital assets. The government will bring the new FEFTA proposition in the current session of parliament, Chief Cabinet Secretary Hirokazu Matsuno said in a press conference.
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