Japan Freezes Assets of Moscow-Based Crypto Exchange Garantex
Japan has added Moscow-based crypto exchange Garantex to its sanctions list, freezing assets and restricting payments. This brings Japan in line with the US and EU, which have already targeted Garantex over alleged evasion of international sanctions and illicit financial activity.
The designation does not come with new accusations, but rather extends existing restrictions against the exchange. Garantex has a long history of enforcement, having processed at least $96 billion in transactions since its founding in 2019. In 2022, it lost its Estonian license due to anti-money laundering deficiencies and was subsequently sanctioned by the US Treasury's Office of Foreign Assets Control (OFAC). The European Union followed with its own sanctions in 2025.
The move is part of a broader package of sanctions against Russia, which includes restrictions on shipping and defense sector entities. Garantex is now grouped alongside weapons manufacturers and shadow-fleet tankers in Tokyo's thinking. Whether this coordination can keep pace with platforms that rebrand faster than sanctions lists are updated remains to be seen.