US asks Japan to help cut crypto miners’ links with Russia: FT 

Quick Take

  • Some Japanese crypto miners have developed complex networks of subsidiaries to continue their Russian operations, people close to the situation said.

The US asked Japan to increase pressure on its cryptocurrency exchanges and miners to sever ties with Russia amid the Ukraine conflict, the Financial Times reported on Friday, citing people familiar with the matter. 

The US asked Tokyo specifically to stop its companies' cryptocurrency mining operations in the Irkutsk region in Siberia, two people familiar told the FT.  

The area is favored for crypto mining operations because of its low temperatures and cheap hydroelectric power.  

THE SCOOP

Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy