War Wallets Exposed: 60 Crypto Operators Under Ukraine’s Gun
2025-07-08 06:21:18
Main Idea
Ukraine has sanctioned 60 crypto firms, primarily based in Russia, to block crypto routes funding Russia's war efforts, with plans to coordinate these sanctions with allies like the EU and the US.
Key Points
1. Ukraine's President Zelensky signed Decree No. 465/2025, freezing assets and banning operations of 60 crypto firms, including 55 in Russia and others in Cyprus, Kazakhstan, and the UAE.
2. The sanctions target mining, exchange, and payment firms processing coins linked to sanctioned individuals, aiming to disrupt Russia's use of crypto for military funding.
3. Ukraine plans to share these measures with allies like the EU and the US to close loopholes and tighten restrictions on Russia's financial channels.
4. A new Russian stablecoin, A7A5, pegged to the ruble, has moved over $9 billion in four months, highlighting the growing use of crypto by sanctioned entities.
5. Five non-Russian companies under US restrictions were also included in Ukraine's sanctions list, emphasizing the global reach of the measures.
Description
In a defiant move, Ukraine strikes at crypto routes fueling Russia’s war machine. The war-torn European country has unleashed a dramatic wave of sanctions designed to choke off the digital pipelines that have been fueling Russia’s military campaign. President Volodymyr Zelenskyy signed Decree No. 465/2025 , effectively freezing the assets and banning operations of 60 crypto firms—55 based in Russia and five scattered across Cyprus, Kazakhstan and the UAE. This sweeping action is meant to send a ...
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