US Treasury Dismantles Russian Crypto Networks with Sanctions

The U.S. Treasury Department has unveiled a new wave of sanctions targeting Russian cryptocurrency networks, aiming to cut off Moscow’s access to the US financial system and disrupt its efforts to evade international sanctions. These sanctions focus on Garantex, a defunct Russian crypto exchange, and the A7A5 stablecoin, backed by the Russian State Bank Promsvyazbank and implicated in facilitating illicit digital transactions.