<ul><li>The US Treasury Department sanctioned eight cryptocurrency wallet addresses linked to Russian crypto exchange Garantex and the Yemeni political and military organization the Houthis.</li><li>The addresses in question reportedly moved nearly $1 billion worth of funds linked to sanctioned entities, mostly funding Houthi operations in Yemen and the Red Sea region.</li><li>This move reflects a broader recognition of crypto's role in geopolitical conflicts and terrorism financing, which will lead to swift adaptation of compliance frameworks, intensified attribution efforts, and increased scrutiny on decentralized platforms.</li><li>Garantex, the Russian crypto exchange, was previously shut down in March for alleged involvement in money laundering, and has since sought to rebrand as 'Grinex.'</li></ul>

US sanctions 8 crypto wallets tied to Garantex exchange and Yemeni Houthis

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