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The U.S. Treasury’s OFAC has sanctioned Russian crypto exchange Garantex for processing over $100 million tied to illicit activities, including ransomware. The move highlights ongoing scrutiny of crypto firms despite regulatory easing under Trump’s administration.
- OFAC blacklisted Garantex for processing $100M+ in illicit transactions tied to ransomware and cybercrime.
- The sanctions contrast with Trump administration's broader regulatory easing, including DOJ dropping crypto fraud probes.
- Stablecoins like USDT are increasingly used by Russian entities to evade sanctions, per Elliptic's co-founder.
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