Unregulated crypto firms in the UK are facing calls to close ‘loopholes’ which allow Russians to evade sanctions. Industry body Crypto UK said it is engaged in discussions with the Treasury and MPs about the possible use of digital assets to evade economic sanctions. In a letter, Crypto UK urged unregulated firms not to become a “loophole for sanctioned Russians” and to freeze or block illicit transactions.
“As many of you know, we have a two-tier system in the UK where only 34 crypto companies hold a licence from the…Russian Users Are Using Crypto Loopholes To Skirt Sanctions
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