Add as a preferred source on GoogleUK Sanctions Cryptomus and Two Crypto Services Over Illicit Financing
The designations target services linked to illicit financing tied to Russia’s wartime economy and more than 15,000 illicit transactions.
The UK sanctioned Cryptomus and two other crypto services over links to illicit financing tied to Russia’s wartime economy, adding pressure to payment networks used in illegal financial activity.
The measures target Cryptomus, Heleket and TokenSpot CJSC. Cryptomus operates as a cryptocurrency payment processor, while the services were linked to illicit transactions involving scams and terrorist financing.
Cryptomus and Heleket were linked to funds from more than 15,000 illicit counterparties. The services were also associated with financial activity connected to Russia’s wartime economy.
The sanctions reflect heightened scrutiny of crypto services that process or receive funds tied to illicit networks. The action adds to international enforcement pressure on crypto payment infrastructure as regulators focus on how digital-asset services are used across borders.
Riza Dagoc
Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.