UK regulators warn crypto firms not to breach sanctions
Crypto asset firms risk breaking law if they fail to enforce sanctions on Russia
UK regulators have told crypto asset firms they are not exempt from laws mandating that sanctions on Russia be enforced by financial institutions.
“Financial sanctions regulations do not differentiate between crypto assets and other forms of assets,” the Bank of England (BoE) and Financial Conduct Authority (FCA) said in a joint statement. “The use of crypto assets to circumvent economic sanctions is a criminal offence.”
Opaque markets for crypto assets have been in particular focus since
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