UK sanctions 3 crypto exchanges over Russia evasion
Two of the targets handled A7's A7A5 stablecoin, claimed at $90B+ in flows, a figure blockchain-data firms dispute. The wider package fits a cumulative Western squeeze on Russian crypto rails.
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Two of the targets handled A7's A7A5 stablecoin, claimed at $90B+ in flows, a figure blockchain-data firms dispute. The wider package fits a cumulative Western squeeze on Russian crypto rails.
The $17B flows behind A7 Network routed through a ruble-backed token built for sanctions evasion, the first OFAC action to anchor a criminal-organization designation around a named stablecoin.
The first potential third-country crypto-services ban pushes EU enforcement beyond Russian entities and into offshore infrastructure serving them.
The sanctioned ruble stablecoin says data providers undercount its DeFi activity, while TRM Labs and Elliptic peg real volume closer to $75M and report volumes down 90%+ since January.
Moscow's move to bar a 17-year-old researcher — and three other UK nationals plus a Washington Post reporter — elevates a ruble-pegged stablecoin built to dodge post-2022 sanctions from a niche token…