02:47
The U.S. Treasury sanctions the Russian Ruble stablecoin and related exchanges.
According to Gate News bot, Cointelegraph reports that the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has imposed sanctions on the ruble-backed stablecoin A7A5 and related entities and individuals of the now-defunct exchange Garantex. OFAC accuses these subjects of assisting Moscow in circumventing international sanctions.
After Garantex was shut down, the crypto trading platform Grinex transferred its customers' funds to the A7A5 token to restore access. It is noteworthy that A7A5 was issued by the Kyrgyz company Old Vector and created for the cross-border settlement platform A7 LLC, specifically designed for Russian users.