UK Sanctions Cryptomus and Two Crypto Services Over Illicit Financing

The UK sanctioned Cryptomus and two other crypto services over links to illicit financing tied to Russia’s wartime economy, adding pressure to payment networks used in illegal financial activity. The measures target Cryptomus, Heleket and TokenSpot CJSC. Cryptomus operates as a cryptocurrency payment processor, while the services were linked to illicit transactions involving scams and terrorist financing. Cryptomus and Heleket were linked to funds from more than 15,000 illicit counterparties. The services were also associated with financial activity connected to Russia’s wartime economy. The sanctions reflect heightened scrutiny of crypto services that process or receive funds tied to illicit networks.

Also reported by Coinfomania.

Source: TokenPost