The government of Japan is seeking to revise its foreign exchange laws to block Moscow from evading sanctions by using cryptocurrencies. A revised version of the Foreign Exchange and Foreign Trade Act will be presented by the government at the current session of parliament, Chief Cabinet Secretary Hirokazu Matsuno said at a press conference. At a parliament session on Monday, Prime Minister Fumio Kishida also stressed the need to amend the law and coordinate moves with Western allies. The update “presumably enables the government to apply the law to crypto-asset exchanges like banks, and oblige them to scrutinize whether their clients are Russian sanction targets,” said Saisuke Sakai, senior economist at Mizuho Research and Technologies, according to Reuters. Tokyo likely developed the law revision due to stricter international rules regarding the issue, as well as strong domestic support for sanctions against Russia, he added. Following the invasion of Ukraine, Tokyo had …