Yesterday, the U.S. Treasury’s Office of Foreign Assets Control (OFAC) published 13 more Russian-linked entities subject to sanctions. This time, they are mainly involved with cryptocurrency and digital assets, which could be used to circumvent sanctions.
“Russia is increasingly turning to alternative payment mechanisms to circumvent U.S. sanctions and continue to fund its war against Ukraine,” said Under Secretary of the Treasury for Terrorism and Financial Intelligence, Brian E. Nelson. “As the Kremlin seeks to leverage entities in the financial technology space, Treasury will continue to expose and disrupt the companies that seek to help sanctioned Russian financial institutions reconnect to the global financial system.”
Long before it invaded Ukraine, Russia launched its digital financial asset (DFA) legal regime, the Russian equivalent of real world asset (RWA) tokenization. It grew significantly last year.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
