UK Slams Brakes on $90 Billion Russia Crypto Network

The UK government has introduced new sanctions targeting 18 cryptocurrency platforms, banks, and financial networks tied to Russia's A7 payment network.

The entities are accused of processing over $90 billion in transactions to fund Russia's invasion of Ukraine. The move aims to cut off the financial flows supporting Putin's war efforts.

A report by TRM Labs reveals that several major crypto exchanges, including Huobi and Exmo Exchange, have been linked to illicit Russian flows.