RateCaptain
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
  • Contact Us
No Result
View All Result
Subscribe
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
  • Contact Us
No Result
View All Result
RateCaptain
No Result
View All Result
Home Cryptocurrency

Russian Sanctions: Japan to Amend its Foreign Exchange Laws with Eyes on Crypto Exchanges.

Rate Captain by Rate Captain
March 29, 2022
in Cryptocurrency
Reading Time: 2 mins read
A A
0
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

To prevent Russia from circumventing Western financial sanctions, Japan plans  to amend its foreign exchange laws  and sets graze at “crypto-asset exchanges like banks.”

This was revealed to Reuters Reporters today by Chief Cabinet Secretary Hirokazu Matsuno.

AlsoRead

Ethereum sticks on a bullish trend

BTC’s Price Rises as Market Reacts to the Fed hawkish move.

Bitcoin recharges with optimism, aims for a $25K area

He stated that the government will submit a reform of the Foreign Exchange and Foreign Trade Act to the current parliament session to improve protections against potential sanction-busting by Russia through digital assets.

Japanese government imposed asset freezes on over 100 Russian officials, oligarchs, banks, and other institutions. Japan has also imposed a restriction on high-tech exports and removed Russia’s most-favored-nation trade status.

What they are saying

Following last week’s G7 summit in Belgium, Prime Minister Fumo Kishida urged for the law to be revised in a Monday parliament session, stressing the importance of synchronized steps with Western partners.

Saisuke Sakai, senior economist at Mizuho Research and Technologies stated that the  amendment “presumably enables the government to apply the law to crypto- asset exchanges like banks and oblige them to scrutinise whether their clients are Russian sanction targets,”.

Japan’s financial regulatory agency demanded earlier this month that approximately 30 crypto exchanges in the country refrain from conducting asset transactions with penalty targets.

According to economist Sakai, Kishida’s government likely devised the legislation revision plan in light of the harsher constraints imposed by Western authorities on the issue, as well as strong public support in Japan for sanctions against Russia.

A finance ministry official told Reuters discussions were under way about the proposed amendment, saying he could not provide further details.

What you should know

On Monday morning, the Japanese yen resumed its downward trend as the Bank of Japan intervened in the market to protect its implied yield cap.

The yen dropped to 122.78 per dollar, its lowest level since December 2015, giving up a small gain made on Friday when the Bank of Japan did not intervene to protect its objective.

For the second time this year, the Bank of Japan promised to buy an unlimited number of 10-year Japanese government bonds (JGBs) at 0.25 percent, wading into the market to protect its implicit yield cap.

The move occurred as the 10-year JGB yield climbed to a six-year high of 0.245 percent in early trade, falling barely half a basis point short of the BOJ’s yield curve control tolerance ceiling.

The offer, which will be carried out on Tuesday, pushed the dollar to a more than six-year high of 123.03 yen as investors concentrated on the likelihood of increasing interest rate differentials between the United States and Japan.

Previous Post

Access Holdings Plc bullish as investors rally over shares

Next Post

Ethereum is losing its bullish pace, here is what could trigger a buy

Related News

Ethereum sticks on a bullish trend

Ethereum sticks on a bullish trend

by Rate Captain
February 3, 2023
0

Ethereum (ETH) rallied by 3.60% on Wednesday. Following a 1.21% gain on Tuesday, ETH ended the day at $1,642. After...

BTC’s Price Rises as Market Reacts to the Fed hawkish move.

BTC’s Price Rises as Market Reacts to the Fed hawkish move.

by Rate Captain
February 2, 2023
0

The price of the crypto market leader, Bitcoin (BTC), spiked to a high of $24,253.28 over the last 24 hours...

Bitcoin recharges with optimism, aims for a $25K area

Bitcoin recharges with optimism, aims for a $25K area

by Rate Captain
January 23, 2023
0

Bitcoin is up 7.7% over the past week, trading at $22.7K on Monday morning. Ethereum added less - only 4.1%...

Crypto investors lose over $235 million on panic selling over Auditor’s Exit

by Rate Captain
December 19, 2022
0

The bears are holding on to the Crypto market amid weakened buying pressures. Following the announcement by a well-known auditing...

Next Post

Ethereum is losing its bullish pace, here is what could trigger a buy

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Airtel Africa’s nine-month turnover hits $3.9billion.

Airtel Africa’s nine-month turnover hits $3.9billion.

February 3, 2023
Charges on cash transactions skyrocketed by POS agents.

Charges on cash transactions skyrocketed by POS agents.

February 3, 2023

Popular Story

  • CBN reduces over-the-counter withdrawals to N100k, N500k per week for individuals, companies

    CBN Directs Banks to Start Paying New Naira Notes Over the Counter.

    0 shares
    Share 0 Tweet 0
  • MTN Nigeria Annual profit hits N361.5 billion.

    0 shares
    Share 0 Tweet 0
  • Shell’s annual profit hits $39.9 billion.

    0 shares
    Share 0 Tweet 0
  • Charges on cash transactions skyrocketed by POS agents.

    0 shares
    Share 0 Tweet 0
  • Naira depreciates to N749/$ in the parallel market.

    0 shares
    Share 0 Tweet 0
RateCaptain

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

?>