PANews, October 9: According to CoinDesk, the UK Foreign Office has announced new sanctions against 38 entities, including three cryptocurrency exchanges and multiple payment platforms, accusing them of aiding Russia in evading Western financial sanctions. The named entities include Canada-registered company Xeltox Enterprises, which operates Cryptomus, Heleket, and Certa Payments; Kyrgyzstan’s TokenSpot; payment platform Processing KG, which operates VexPay; Tsunami Payments; and Processing KG director Ulan Bukabaev. The UK stated that two of these companies previously processed transactions linked to the A7 network, which is backed by the Kremlin.
UK Sanctions Three Crypto Exchanges for Allegedly Assisting Russia in Evading Sanctions
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Summary
The UK Foreign Office announced new sanctions against 38 entities, including three cryptocurrency exchanges and multiple payment platforms, for allegedly assisting Russia in evading Western financial sanctions. The named firms include Xeltox Enterprises (operating Cryptomus, Heleket, and Certa Payments), Kyrgyzstan’s TokenSpot, and Processing KG (VexPay), along with Tsunami Payments and its director, Ulan Bukabaev. The UK stated that two of the exchanges processed transactions linked to the A7 network, which is reportedly backed by the Kremlin. This development increases pressure on cryptocurrency regulations as global regulators target assets beyond traditional finance.
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