#huobi

The post UK eyes A7A5 stablecoin, Huobi/HTX for Russian sanctions case appeared on BitcoinEthereumNews.com. Homepage > News > Business > UK targets A7A5 stablecoin, Huobi/HTX for Russian sanctions evasion The United Kingdom is punishing a ruble-backed stablecoin issuer and the HTX digital asset exchange for assisting Russia’s efforts to evade economic sanctions imposed following the 2022 invasion of Ukraine. On May 26, the U.K. government’s Foreign, Commonwealth & Development Office issued a new round of measures targeting individuals and entities helping Russia evade economic sanctions imposed on the country following its invasion of Ukraine. Among the entities on the U.K.’s hit list are “the Kremlin-backed A7 network, which actively exploits Kyrgyzstan’s financial systems to channel funds into Russia’s war economy.” This network “claimed to have moved more than $90 billion last year—equivalent to roughly half of Russia’s yearly military expenditure” and nearly one-fifth of the countr