Several online cryptocurrency exchangers based in Russia have access restrictions, according to the financial monitoring organization of Ukraine.
The regulatory agency revealed in a research that some cryptocurrency trading platforms cooperate with Russian institutions that have been sanctioned.
Russian cryptocurrency exchange websites and wallets are targeted by Ukrainian financial authorities.
Ukraine’s financial intelligence agency, the State Financial Monitoring Service (SFMS), has released a special report on the outcomes of its work in 2022.
The agency disclosed that in addition to its peacetime tasks like preventing money laundering, it has also helped with the nation’s defense during the continuing confrontation with Russia.
Together, they were able to pinpoint Russian crypto exchanges linked to country’s main bank, Sber, and other financial organizations that were subject to sanctions.
In order to “curb the aggression of the Russian Federation in the virtual assets market” and prevent peer-to-peer transactions for users of various Russian banks and payment systems,” the state service recalled that it had last year turned to Binance, the largest cryptocurrency exchange in the world.
It has severed connections with regulators in Russia and Belarus while working with the financial authorities of nearly 140 other countries on the issue.
The SFMS also stated that it is collaborating with Ukraine, Georgia, and Moldova – nations with a rapidly expanding cryptocurrency industry and mining sector — in an effort to lessen money laundering via digital assets.