UK Warns Crypto Firms Over Russian Sanctions Evasion

The UK government has issued an advisory to banks, payment processors, and cryptocurrency firms to scrutinize transactions linked to the A7 payment network. Authorities believe this network has been used to circumvent sanctions against Russia.

The National Crime Agency (NCA) is urging companies to identify and report any dealings connected to the A7 network as part of a broader crackdown on financial evasion.

As part of the advisory, firms are required to review counterparties, wallet addresses, and transfer routes that may be connected to A7. This includes checking historical transactions and reporting suspicious activity to the relevant authorities.