UK slaps sanctions on three crypto exchanges over alleged Russia links
CoinDesk 2026-10-09 10:14:59
Context: The United Kingdom has imposed sanctions on three cryptocurrency exchanges and several payment platforms as part of a broader effort to target networks suspected of helping Russia evade Western penalties. The sanctions, which include 38 new designations, aim to disrupt financial networks and entities facilitating transactions involving a Kremlin-backed network. This move is part of a wider package of measures tied to Russia's war in Ukraine.
Key Facts
- The UK sanctioned three cryptocurrency exchanges: Xeltox Enterprises, Cryptomus, Heleket, and Certa Payments, as well as Kyrgyzstan-based TokenSpot.
- Two of the targeted businesses had processed or facilitated transactions involving A7, a Kremlin-backed network that operates the ruble-pegged stablecoin A7A5.
- A7 claimed to have moved more than $90 billion last year, according to the UK government statement.
- The sanctions freeze the designated entities' UK assets and bar British financial institutions from processing payments to, from, or through several of the firms.