Japan Sanctions Garantex as Russia Crypto Crackdown Expands…

AI summary of the source article

Japan has placed Russian cryptocurrency exchange Garantex on its asset-freeze list as part of a sanctions package targeting 33 Russian entities and nine individuals. Under Japan's Foreign Exchange and Foreign Trade Act, transactions including payments, deposits, trusts, and lending involving Garantex now require government authorization. The measures, effective October 2, follow earlier sanctions and enforcement actions by the United States and European Union, which cited illicit transactions, darknet activity, and links to sanctioned Russian banks. The move increases compliance screening obligations for Japanese and global financial institutions monitoring exposure to Russian crypto flows and potential successor networks.

Why it matters

Japan's action expands international coordination against Russia-linked digital asset infrastructure, requiring financial institutions to heighten screening on counterparties, wallet exposure, and successor platforms.

Key facts

• Japan designated Russian cryptocurrency exchange Garantex under its asset-freeze framework on Oct. 2 alongside 33 entities, nine individuals, and 35 vessels.
• Payments and covered capital transactions involving Garantex now require Japanese government permission under the Foreign Exchange and Foreign Trade Act.
• The move follows previous actions by the U.S., which sanctioned Garantex in April 2022 and disrupted its infrastructure in March 2025, and the EU, which sanctioned it in February 2025.