US imposes sanctions on Russian virtual asset operators
On 25 March, the US Treasury Department announced sanctions against thirteen legal entities and two individuals from Russia involved in the provision of financial services and the technology sector of the Russian economy.
This is stated in a press release from the department.
As explained by the US Treasury, the sanctioned persons "develop or offer services in virtual assets that allow them to evade US sanctions" or are owned or controlled by other persons on the sanctions list.
The US sanctions list includes, among others, Moscow-based fintech companies B-Crypto, Distributed Registry Systems, Lighthouse, Electronic Payment Instruments Development Centre, and Atomize, which cooperate with sanctioned Russian banks.
The US Treasury also imposed sanctions on Russian blockchain companies Web3 Technologies and Web3 Integrator, as well as Estonian Bitfingroup OÜ and Cypriot Tokentrust Holdings, which are linked to Russia. The restrictions were imposed on Web3 Technologies shareholder Igor Kaygorodov and owner and director of the Centre for the Development of Electronic Means of Payment Timur Bukanov.
Author - Olena Madiak, 25/03/2024
