The UK has imposed sanctions on three cryptocurrency exchanges, accusing them of allegedly assisting Russia in circumventing financial sanctions.
The UK Foreign Office announced sanctions against Xeltox Enterprises (which includes Cryptomus, Heleket, and Certa Payments), TokenSpot in Kyrgyzstan, and payment platforms Processing KG (operating VexPay) and Tsunami Payments. The UK government stated that two of the sanctioned entities had processed or facilitated transactions involving the Kremlin-backed A7 network, which used the ruble-pegged stablecoin A7A5 to circumvent sanctions on Russia's financial sector. These sanctions are part of 38 new measures taken by the UK against Russian sanction-evading financial networks.
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