🪆The United Kingdom🇬🇧 imposed sanctions on three cryptocurrency exchanges and two payment systems over their links to Russia🇷🇺

🪆The United Kingdom🇬🇧 imposed sanctions on three cryptocurrency exchanges and two payment systems over their links to Russia🇷🇺

Of the sanctioned providers, three were linked to Kyrgyzstan🇰🇬, while two facilitated transactions with the A7 payment network, which is “backed by the Kremlin”.

📎 The A7 network is used to circumvent international sanctions against Russia’s financial sector. In 2025, it processed more than USD 90 billion. Disconnecting these platforms will make it harder for sanctioned entities to access funds, according to an official statement from the UK Foreign Office.

➡️ The Foreign Office statement does not name the sanctioned providers. However, according to Chainalysis, they are Cryptomus and Heleket, which illegally accepted funds from thousands of participants. By the end of 2025, the number of counterparty organizations exceeded 900 in a single month. Another entity mentioned in the statement, the Kyrgyz exchange TokenSpot🇰🇬, also maintained links with A7 and, in particular, received more than USD 308 million from a single address to fund a cryptocurrency exchange account at HTX🇨🇳🇸🇨, which was included in the EU’s 21st sanctions package.

➡️ Context: the Russian ruble-backed stablecoin A7A5 continues to grow despite sanctions. Its share of the market for stablecoins not pegged to the USD reached 43% by June 2026. Between February 2025 and May 2026, the number of coin holders increased from 13,000 to 29,000 wallets.

#news #Europe #Russia #cryptocurrencies #sanctions

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