U.S. Sanctions 3 Cryptocurrency Exchanges for Helping Russia Evade Sanctions
Three cryptocurrency exchanges have been sanctioned by the Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury for providing services that help people get around economic sanctions placed on Russia after its invasion of Ukraine in early 2022.
This comprises Obshchestvo S Ogranichennoy Otvetstvennostyu Tsentr Obrabotki Elektronnykh Platezhey (TOEP), Bitpapa IC FZC LLC, and Crypto Explorer DMCC (AWEX).
Thirteen organizations and two people working in the Russian financial services and technology industries are covered by the designations overall.
The Treasury stated that a large number of the people and organizations designated today assisted in transactions or provided other services that allowed OFAC-designated entities to evade sanctions read more U.S....