Japan has urged cryptocurrency exchanges not to process transactions in crypto assets that are subject to sanctions against Russia and Belarus, officials said, Reuters reported.

The government will work as a unit to strengthen measures against the transfer of funds using crypto assets in violation of sanctions, the Treasury Department and the Financial Services Agency (FSA) said in a joint statement.

Unauthorized payments to sanctioned individuals, including in crypto assets such as cryptocurrencies and non-fungible tokens, are punishable by up to three years in prison or a fine of 1 million yen ($8,487.52), the FSA said in a statement.