US Sanctions 13 Russia-Linked Crypto Firms

The U.S. sanctions 13 Russia-linked FinTechs for allegedly using cryptocurrency to evade sanctions and fund the war in Ukraine.

Brian Nelson, U.S. Treasury under secretary, accuses Russia of turning to alternative payment mechanisms to bypass sanctions, prompting action against facilitating entities.

anctions target Moscow-based FinTechs like Atomaiz, B-Crypto, Masterchain, Veb3 Tekhnologii, Veb3 Integrator, and Cyprus-based Tokenhurt.

Assets of sanctioned entities within U.S. jurisdiction are frozen, and entities with 50% or more ownership by blocked persons are also subjected to sanctions.

Despite sanctions, experts emphasize cryptocurrency transparency, with Chainalysis reporting a decline in crypto money laundering linked to a decrease in transaction volume.

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