TOKYO, Oct. 4 (CandyPulse) — Japan has joined the U.S. and the European Union in targeting one of Russia's best-known crypto exchanges. Garantex has been added to Japan's sanctions list as part of an expanded package of measures against Russia.
Key takeaways
Being placed on Japan's asset-freeze list means payments and capital transactions involving Garantex are restricted. In practice, Japanese individuals and companies can't do business with it, and any assets it holds under Japanese jurisdiction can be frozen.
Garantex is a crypto exchange with close ties to Russia. It has long been accused of helping move money linked to sanctions evasion and illicit activity.
| Detail | Figure or fact |
|---|---|
| Crypto transactions processed (2019–2025) | More than $96 billion |
| Earlier actions | Sanctions and enforcement by U.S. and European authorities |
| Funds frozen in an international operation | More than $26 million, per the U.S. Justice Department |
Sanctions on crypto platforms work best when many countries act together. Each new country that joins makes it harder for a sanctioned exchange to find partners, banking links or users.
Japan's decision also reflects a wider shift: governments now see crypto exchanges as part of the financial system that can be targeted, just like banks.
As Russia faces broad international sanctions, attention has turned to crypto as a possible workaround. Regulators are responding by sanctioning exchanges, tracking wallets and pressing stablecoin issuers to freeze suspicious funds.
Watch for whether other countries in Asia follow Japan's lead, and for any new attempts by Garantex-linked operators to resurface under different names.
This article is for information only and is not legal or financial advice.
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