UK sanctions Cryptomus, Heleket and TokenSpot

The United Kingdom announced sanctions on October 8 against cryptocurrency payment processors Cryptomus and Heleket and Kyrgyzstani exchange TokenSpot, naming them among 38 Russia-related designations. The measures target financial services and networks that British authorities link to Russia’s wartime economy and alleged sanctions evasion. The package includes companies beyond the three crypto platforms, including oil businesses, financial institutions, suppliers of goods used by Russia’s military industry and 12 shadow fleet tankers. The designations were made by the UK Foreign, Commonwealth and Development Office under its Russia sanctions regime. The sanctions require people subject to UK jurisdiction to freeze assets belonging to designated parties and prohibit making funds or economic resources available to them, unless permitted under applicable rules. The package also includes internet-services restrictions on several listed entities, though the supplied reports do not specify that the restrictions apply to all three crypto firms. Blockchain analytics firms have described transaction links behind the designations.