The United States has imposed sanctions on the Russian stablecoins A7A5 and the Garantex exchange.

According to reports from Hash World, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has imposed sanctions on the Russian cryptocurrency exchange Garantex and companies and executives related to the stablecoin A7A5, and has shut down the Garantex exchange. OFAC accuses Garantex, Grinex, the A7A5 token issuer, and their executives of using ransomware to launder money and evade sanctions. Garantex processed over $100 million in illegal transactions before being shut down, and Grinex emerged to continue operations. The sanctioned A7A5 token, supported by Russian institutions, is used to bypass international sanctions, processing $1 billion in transactions daily.

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