UK Imposes Sanctions on Crypto Exchanges Linked to Russia
- The U.K. sanctioned three cryptocurrency exchanges, including Cryptomus, Heleket, and Certa Payments.
- These actions are part of a broader package that includes sanctions on a total of 38 entities suspected of aiding Russia in evading sanctions.
- The targeted exchanges are linked to A7, a Kremlin-backed network that operates the ruble-pegged stablecoin A7A5, allegedly used for bypassing financial restrictions.
- Last year, A7 claimed to have facilitated over $90 billion in transactions.
- Previous sanctions were imposed on other exchanges like Huobi and HTX for similar reasons.
This recent action underscores ongoing efforts by the U.K. government to target financial networks supporting Russia amid its conflict with Ukraine. The scrutiny extends beyond previously sanctioned entities, indicating a comprehensive approach to combatting sanction evasion.
The U.K.’s measures against these exchanges reflect an intensified focus on crypto-related activities linked to Russian financial networks, particularly those involving the substantial transaction volume associated with A7A5.(Source)
