UK sanctions crypto payment processors Cryptomus and Heleket plus TokenSpot exchange for facilitating Russia sanctions evasion and illicit financial flows.
Regulation & Gov ·
The UK sanctioned five crypto and payment platforms as part of a 38-target Russia sanctions package, including Cryptomus (through its owner Xeltox Enterprises), TokenSpot, and VexPay, according to https://decrypt.co/380568/uk-targets-cryptomus-and-tokenspot-in-new-russia-sanctions-package. Two of the targeted platforms processed transactions with A7, a network the UK describes as Kremlin-backed and claims moved over $90 billion last year. The designations trigger asset freezes and internet services sanctions that require UK social media platforms, internet providers, and app stores to block access to the firms' sites and apps.