The US government sanctions aim to disrupt entities facilitating transactions or providing services that assist OFAC-sanctioned entities in circumventing sanctions.
Among the entities sanctioned is B-Crypto, a Moscow-based fintech firm accused of collaborating with Rosbank to enable Russian exporters to conduct cross-border payments using cryptocurrency assets.
In the latest development, the U.S. Government has taken action against several entities and individuals believed to have provided cryptocurrency products and services that facilitated the evasion of sanctions on Russia.
The Office of Foreign Assets Control (OFAC) under the U.S. Department of the Treasury announced sanctions on thirteen entities and two individuals operating in Russia’s financial services and technology sectors. Many of the designated individuals and entities are accused of assisting OFAC-designated entities in bypassing sanctions by facilitating transactions or providing other services. In an official stateme
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