The UK sanctioned five crypto and payment platforms, including Cryptomus and TokenSpot, for facilitating transactions that help Russia circumvent financial sanctions. Two of the targets processed transactions with Russia's A7 network, an illicit finance operation that moved over $90 billion last year. The sanctions are part of a broader 38-target package targeting Russian oil companies and shadow fleet tankers.
The UK sanctioned three cryptocurrency exchanges and two payment processors linked to Russian entities and the A7 financial network, which has moved over $90 billion to circumvent Western sanctions. The sanctioned platforms, including TokenSpot, Cryptomus, and Heleket, received hundreds of millions in funds from thousands of illicit counterparties and facilitated transactions for Russia's military expenditure.
The UK Foreign Office imposed sanctions on multiple cryptocurrency platforms, including Cryptomus and several payment processors, for allegedly facilitating Russian sanctions evasion. The targeted entities span jurisdictions including Kyrgyzstan and include exchanges like TokenSpot and platforms such as Tsunami Payments.
The UK has sanctioned three cryptocurrency service providers—Cryptomus, Heleket, and TokenSpot—for allegedly facilitating Russian sanctions evasion. TokenSpot alone transferred over $950 million to sanctioned exchanges and Kremlin-backed networks.