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Ukraine Targets Russia’s Crypto Lifeline with New Sanctions

  • Ukraine has implemented new sanctions targeting over 70 individuals and 60 companies accused of aiding sanctions evasion.
  • The sanctions impact major Russian crypto miners, digital asset issuers, and payment intermediaries suspected of supporting Russia's military and industrial sectors.
  • Foreign-based firms like TokenTrust Holdings, EXMO RBC, AWX, and Bitpapa have also been penalized for allegedly assisting Russia in converting cryptocurrencies into fiat currencies.
  • The sanctions freeze assets, ban business activities within Ukraine, and aim to prevent the movement of capital through decentralized platforms in response to Russia's growing reliance on crypto amid financial limitations.

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