The UK has blacklisted several crypto platforms, accusing them of helping Russia circumvent trade restrictions.

CoinFeed reported on May 27 that, according to FinanceFeeds, the UK government has officially imposed immediate financial sanctions on several cryptocurrency exchanges, peer-to-peer trading services, and shadow financial networks, accusing these digital asset entities of systematically undermining existing Western trade restrictions as alternative capital channels. The sanctions list includes 18 entities, including EXMO Exchange, Bitpapa, Rapira, and Nueva Cryptologia. An investigation by British intelligence agencies revealed that the Kremlin-backed A7 payment network transferred over $90 billion through digital channels last year to finance military procurement and process capital transfers related to Russian oil exports. The sanctions include a global asset freeze, a complete ban on banking and transaction processing, and a prohibition on UK financial institutions from interacting with designated entities.