Cryptoasset sector told by UK regulators to comply with Russian sanctions

Financial services firms including those in the cryptoasset sector were warned by Britain’s regulatory bodies on Friday that they were expected to ensure sanctions imposed against entities and individuals in Russia and Belarus were complied with.

“We are working closely with partners in government and law enforcement both here and abroad, including regulatory authorities, to share intelligence and act to prevent sanctions evasion, including through cryptoassets,” the financial regulators said.

“We also remain ready to act in the event of sanctions breaches,” added the statement from the Office of Financial Sanctions Implementation, the Financial Conduct Authority (FCA) and the Bank of England.

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