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UK Targets Kyrgyz Crypto Networks in Sanctions Crackdown on Russia
UK Targets Kyrgyz Crypto Networks in Sanctions Crackdown on Russia
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BTCCSquare news:
The UK government has escalated its sanctions enforcement against financial networks allegedly facilitating Russian evasion efforts, with a focus on a Kyrgyzstan-linked stablecoin operation. At the center of the action is A7A5, a rouble-pegged stablecoin accused of processing $9.3 billion in cross-border transactions within four months—a volume that triggered suspicions of systematic sanctions circumvention.
Authorities sanctioned Luxembourg-based Grinex and Kyrgyz firm Old Vector, both tied to A7A5's infrastructure, alongside individuals accused of aiding Russian military procurement through crypto channels. The move aligns with broader Western efforts to clamp down on alternative payment rails as traditional sanctions tighten.
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