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The U.S. Treasury has sanctioned multiple companies and individuals for allegedly using stablecoins to help Russia evade international sanctions. The move underscores regulators’ growing focus on crypto as a tool for sanctions evasion. Key targets include ruble-backed stablecoin issuers and platforms linked to illicit financial flows.
- A7 LLC, creator of the A7A5 stablecoin, allegedly facilitated $1 billion in daily transfers for Russian entities.
- Garantex, a sanctioned crypto exchange, was dismantled with $26 million in USDT frozen by U.S. authorities.
- OFAC is increasingly targeting digital asset addresses and stablecoin systems to enforce sanctions compliance.
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