UK Hits Three Crypto Exchanges and Two Payment Platforms in Russia Sanctions Crackdown

Britain has put sanctions on three crypto exchanges and two payment platforms accused of helping Russian entities get around financial restrictions. The Foreign, Commonwealth and Development Office announced the move on Thursday. Three of the providers have links to Kyrgyzstan, and two worked with the Kremlin backed A7 network, which says it moved over $90 billion last year, close to half of Russia’s yearly military spending. The government argues that cutting off these platforms makes it harder for sanctioned parties to move and reach their money.

Chainalysis Findings on Cryptomus, Heleket and TokenSpot

Chainalysis found that payment processors Cryptomus and Heleket received funds from thousands of illicit counterparties, with a peak of 900 entities in a single month in late 2025. Kyrgyz exchange TokenSpot was also tied to A7. Along with Grinex and Meer, it took in more than $308 million from the same HTX deposit address.

HTX Sanctions and the A7A5 Ruble Stablecoin

In May, UK authorities sanctioned Huobi Global, the operator behind HTX. CertiK reports that the ruble backed A7A5 stablecoin processed $110 billion in cumulative onchain transactions up to June, still growing despite Western sanctions.