The UK sanctioned crypto exchanges and payment processors, some of which were tied to thousands of Russian entities and the sanctioned HTX exchange. The UK government has sanctioned three cryptocurrency exchanges and two payment platforms suspected of helping Russian entities circumvent financial sanctions. Three of the service providers were linked to Kyrgyzstan, while two of them facilitated transactions with the Kremlin-backed A7 network, the UK Foreign, Commonwealth & Development Office (FCDO) announced Thursday. Cutting off these platforms makes it harder for sanctioned entities to move and access funds, the Foreign Ministry said, adding that the A7 financial network claimed to have moved more than $90 billion last year, or nearly half of Russia’s annual military expenditure.
Regulated cryptocurrency exchanges may see more than $46 billion in crypto trading volume during the first year after legalization, according to estimates from the country’s largest bank. Cryptocurrency trading in Russia is expected to bring 4 trillion rubles ($46.4 billion) in trading volume for regulated domestic exchanges in the first year after legalization, according to estimates from Sber, the country’s largest bank. Domestic crypto trading volumes on regulated exchanges could grow to about 7.5 trillion rubles by 2029, Sber’s Deputy Chairman, Anatoly Popov, told Tass in a Saturday report. Popov attributed the conservative forecast to the fact that a large share of crypto transactions will continue to be conducted through cryptocurrency exchanges that are not regulated in Russia, byp…
Reuters reported that Binance supplied transaction records and identity documents later used in a terrorism-financing case against Yuri Belenkiy. Binance reportedly provided Russian authorities with transaction records and personal information belonging to a customer accused of financing terrorism via cryptocurrency donations to Ukrainian fundraising campaigns. Russian investigators used information supplied by Binance as evidence against IT specialist Yuri Belenkiy, who was detained in September 2025 and is awaiting trial in Russia, according to law enforcement documents reviewed by Reuters. Russia’s Investigative Committee alleged Belenkiy sent more than $700 in crypto between January 2023 and March 2024 to the Ukrainian military and a banned organization that Reuters identified as the g…
Russian President Vladimir Putin signed a crypto law establishing market rules for exchanges, custodians and investors, with core provisions taking effect in September 2026. Russian President Vladimir Putin has signed a law creating a regulated framework for cryptocurrency markets in Russia. Putin signed bill No. 1194918-8, titled “On Digital Currencies and Digital Rights,” into law on Tuesday, according to official records from the State Duma, Russia’s lower house of parliament. The legislation establishes rules for crypto market participants, including exchanges, brokers, custodians and other crypto service providers. The law requires crypto exchange operators to meet regulatory requirements and join a financial market self-regulatory organization. It limits retail investors to buying ap…
The exchange, already sanctioned by the UK, is now on a list of 18 entities “providing crypto-assets services or payment services“ in defiance of the EU’s measures against Russia. The European Union has listed cryptocurrency exchange HTX, formerly Huobi Global, as part of a package of sanctions targeting Russia amid the country’s war on Ukraine. In a Thursday decision, the European Council amended its previous measures “in view of Russia’s actions destabilizing the situation in Ukraine” to include HTX in a list of 18 entities “providing crypto-assets services or payment services established outside of the Union that are significantly frustrating the purpose of the prohibitions” against Russia. The country continues to face sanctions globally over its war in Ukraine following a military inv…
The State Duma legislation creates a regulated framework for crypto market participants and now moves to President Vladimir Putin for his signature before becoming law. Russia’s State Duma has approved a bill establishing rules for the cryptocurrency market, setting conditions for crypto asset operations inside the country and for cross-border trade. The parliament approved bill No. 1194918-8, titled “On Digital Currency and Digital Rights,” in its second and third readings on Tuesday, as expected after lawmakers scheduled the final votes, according to official parliamentary records. The legislation creates a regulated framework for crypto market participants, including crypto exchanges, brokers, asset managers and custodians, and sets requirements for companies operating in the sector.
Russian ruble-backed stablecoin A7A5 processed over $110 billion in transactions despite Western sanctions, according to CertiK. The Russian ruble-backed A7A5 stablecoin continued to grow despite Western sanctions, processing more than $110 billion in cumulative onchain transactions, according to CertiK. CertiK said A7A5 captured about 43% of the global non-US dollar stablecoin market, and that its holder count rose from 13,000 to 29,000 wallets between February 2025 and May 2026. The security company described A7A5 as one of the clearest examples of a sanctions-evasion stablecoin ecosystem, linking it to Russian cross-border settlement companies.
The European Commission made its move in response to Russia's increasing reliance on crypto transactions to circumvent sanctions amid the country's war on Ukraine. The European Commission announced a package of crypto-related sanctions against Russia in response to the country’s military actions against Ukraine. In a Thursday notice, the commission said the sanctions targeted Russia’s energy and financial sectors, including a “total sectorial ban on carrying out exchanges with any Russian crypto asset service provider as well as any decentralised platforms enabling crypto trading” that could be used to circumvent the measures. The EC, composed of 27 member states in the European Union, also prohibited the use of stablecoins pegged to the Russian ruble and the central bank digital currency…
Iurii Gugnin allegedly used fake documents to bypass sanctions and launder $530 million for Russian clients. In the process, he deceived US banks. Iurii Gugnin allegedly used his crypto firm to move $530 million through US banks and crypto exchanges using Tether (USDT), facilitating payments for Russian clients tied to sanctioned banks. Gugnin allegedly failed to implement AML regulations and didn’t file suspicious activity reports (SARs), violating the Bank Secrecy Act and misleading financial institutions. Gugnin also reportedly accessed websites that provided information on indicators of criminal investigation and methods for detecting law enforcement surveillance.
With a $151 million market cap, A7A5 has reportedly been involved in $9.3 billion of transactions with Grinex, the supposed successor to the sanctioned Garantex exchange. A7A5, a new Russian ruble-backed stablecoin, has reportedly emerged as a major transaction tool on Grinex, a crypto exchange widely seen as the successor to Russia’s sanctioned Garantex platform. Following the stablecoin’s launch in Kyrgyzstan in February, at least $9.3 billion worth of A7A5 (A7A5) has moved through Grinex, the Financial Times reported on Wednesday. Although Grinex has repeatedly denied links to Garantex, the exchange was allegedly crediting balances by users of the sanctioned Garantex, which was hit with a $27 million USDT freeze by Tether in March.
Russian authorities found 95 mining rigs and a mobile transformer in a KamAZ truck illegally tapping power meant for a village in Buryatia. Authorities in Russia’s Republic of Buryatia have uncovered an illegal cryptocurrency mining operation hidden inside a KamAZ truck siphoning electricity meant for a nearby village. Discovered during a routine power line inspection in the Pribaikalsky District, the unauthorized setup was drawing electricity from a 10-kilovolt line, enough to supply a small village, according to Russian state-owned news agency TASS. Inside the truck, inspectors found 95 mining rigs and a mobile transformer station. Two individuals believed to be connected to the operation fled the scene in an SUV before police arrived.
South Korean police arrested a Russian national in Busan after a failed $730,000 crypto robbery in Seoul. South Korean authorities have arrested one of three Russian nationals accused of an attempted robbery during a fake crypto deal in Seoul. The suspects allegedly lured Korean investors to a hotel, where they tried to steal 1 billion won (approximately $730,000) in cash. The Gangseo Police Precinct in Seoul detained a man in his 20s in Busan on May 27, according to a report by local news outlet JoongAng Daily. The suspect faces charges of assault and attempted robbery. The other two suspects reportedly fled South Korea shortly after the incident. According to investigators, the robbery attempt occurred on May 21 at a hotel in Seoul’s Gangseo District. The suspects posed as participants i…
