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Japan Adds Garantex to Sanctions List Tied to Ukraine War

The Japanese government has expanded its sanctions against Russia by adding the cryptocurrency exchange Garantex to a new set of measures aimed at disrupting Russian financial activity tied to the war in Ukraine. The update was announced in a joint statement released Friday by Japan’s Ministry of Foreign Affairs, Ministry of Finance, and Ministry of Economy, Trade and Industry. In addition to the exchange, the new package includes 33 organizations and nine individuals connected to Russia, with the changes focused on an asset-freeze framework designed to restrict payments and other capital transactions involving designated parties. The government also targeted 35 vessels associated with the so-called “shadow fleet,” which is used to move Russian oil while evading existing sanctions. Key takeaways Japan added crypto exchange Garantex to its expanded Russia sanctions list, increasing pressure on platforms alleged to facilitate sanctions evasion. The asset-freeze measures cover 33 orga...
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Japan Adds Garantex to Sanctions List Targeting Russia Over Ukraine

Japan has broadened its sanctions against Russia as the war in Ukraine continues, adding the Russian cryptocurrency exchange Garantex to a new asset-freeze list. The update, announced in a joint statement by Japan’s Ministry of Foreign Affairs, Ministry of Finance and Ministry of Economy, Trade and Industry, extends restrictions on payments and capital transactions involving designated parties. Beyond Garantex, Japan also increased the number of sanctioned Russian-linked entities and individuals, and targeted dozens of vessels believed to be involved in the “shadow fleet” used to support oil shipments—an area Japan says is closely tied to Russia’s ability to earn revenue from crude exports. Key takeaways Japan added the crypto exchange Garantex to its asset-freeze list, tightening restrictions on payments and capital transactions with the firm. The sanctions expand to 33 additional organizations and nine individuals linked to Russia. Japan also designated 35 vessels associated wi...
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El Salvador Gets $138M IMF Tranche After Bitcoin Waiver Approval

The International Monetary Fund has approved the immediate release of roughly $138 million to El Salvador under its $1.4 billion financing program, even though the country did not fully meet certain performance targets. The decision came after the IMF’s Executive Board completed the second and third reviews of El Salvador’s 40-month Extended Fund Facility (EFF) arrangement, according to an IMF press release published this week. IMF officials said the disbursement was accompanied by waivers tied to “strong corrective measures and renewed commitments.” The IMF also reiterated that further Bitcoin accumulation will not be carried out beyond previously documented donations. Key takeaways The IMF authorized an immediate $138 million disbursement after completing the 2nd and 3rd EFF reviews for El Salvador. Some performance criteria were missed, including those related to Bitcoin accumulation, but the IMF granted waivers. The IMF said progress continues on reforms covering the financia...
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El Salvador Gets $138M IMF Tranche After Bitcoin Tax Waivers Granted

The International Monetary Fund has approved the immediate release of roughly $138 million to El Salvador under its $1.4 billion financing program, following the completion of the IMF’s second and third reviews of the country’s 40-month Extended Fund Facility (EFF). The IMF said the disbursement can proceed even though some performance targets were missed, including those tied to Bitcoin accumulation. In a press release issued after the Executive Board completed the reviews on Thursday, the IMF confirmed that it granted waivers for unmet criteria on the basis of what it described as “strong corrective measures and renewed commitments.” The decision underscores how closely the IMF is monitoring El Salvador’s crypto-related policy—while also signaling that the lender remains willing to move forward when it believes safeguards and reforms are strengthening. Key takeaways The IMF approved an immediate disbursement of about $138 million despite not meeting some program performance criteri...
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Russia’s Finance Ministry Makes First Payroll in Digital Rubles

Russia’s Ministry of Finance said Friday that some of its employees have started receiving wages in digital rubles—marking an early real-world use case for the central bank’s tokenized currency. The option for payroll payments in the digital ruble began on Thursday, Oct. 1, and is described as voluntary for participating citizens. In a press release , the ministry said it has not disclosed how many employees took part or the total amount paid out in digital rubles. It did, however, frame the move as a deployment of “proven rails” already tested during government spending trials next year. Key takeaways Russia’s Ministry of Finance says it has started paying some employees in digital rubles on Oct. 1, under a voluntary program. The ministry did not specify participation numbers or the payroll value in digital currency. Russia cited prior budget-process trials in 2025, referencing the disbursement of about 16 million digital rubles (roughly $192,245). Implementation for budget-re...
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Russia’s Finance Ministry Starts Paying Wages in Digital Rubles

Russia’s Ministry of Finance says some of its employees have started receiving wages in the country’s central bank digital currency, with payments in digital rubles available on a voluntary basis. In a press release published Friday, the ministry stated that the first salary disbursements in digital rubles began Thursday, Oct. 1, and that the program is intended to mirror work already carried out in federal budget spending trials in 2025, when digital rubles were used in live disbursements. Key takeaways Russia’s Ministry of Finance reported that certain employees were paid their wages in digital rubles for the first time. The digital ruble wage option is voluntary and started on Thursday, Oct. 1. The ministry did not disclose how many employees participated or the total payroll amount. The ministry said the payroll rollout uses “proven rails” from 2025 federal budget spending trials. Work on integrating the digital ruble into budget processes is being carried out by the Bank...
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Community Banks Sue OCC, Challenging Trust Bank Charters for Crypto Firms

A trade group representing US community banks has taken the Office of the Comptroller of the Currency (OCC) to court, arguing the regulator is overstepping its authority by allowing cryptocurrency firms to obtain national trust bank charters for activities the group says are not properly constrained. According to the complaint filed by the Independent Community Bankers of America (ICBA), the OCC’s approach grants crypto-related companies the legitimacy associated with a federal bank charter while allegedly sidestepping protections and compliance expectations that typically come with insured depository institutions. The lawsuit was filed Friday in the US District Court for the District of Columbia. Key takeaways The ICBA says the OCC exceeded congressional authority by permitting crypto companies to use national trust bank charters for substantial non-fiduciary activity. The group argues that the OCC’s framework effectively offers charter credibility without applying key banking req...
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