U.S. sanctions Russian entities accused of enabling digital currency sanctions evasion

By FATIMA HUSSEIN
Associated Press

WASHINGTON (AP) — The U.S. is imposing sanctions on a collection of mostly Russian fintech firms and people accused of enabling sanctions evasion. Treasury’s Office of Foreign Assets Control announced Monday that it was sanctioning 13 firms and 2 people. Five of the firms are owned by someone who is already sanctioned. According to the Treasury Department, the sanctioned firms and people either helped build or operate blockchain-based services or enabled virtual currency payments for the Russian financial sector. The Department says those actions enable “potential sanctions evasion.” Included in Monday’s sanctions are a group of Moscow-based fintech companies and a Russia-based virtual currency exchange.