The UK government has sanctioned three cryptocurrency businesses, including payment processors Cryptomus and Heleket, and the Kyrgyzstan-based exchange TokenSpot CJSC. These entities were included in a broader package of 38 organizations targeted for their alleged role in helping Russia evade financial sanctions.
Blockchain analytics firm TRM Labs provided data linking these platforms to previously sanctioned entities such as Garantex, Grinex, and the A7 network. According to TRM, TokenSpot facilitated over $950 million in transfers to these networks, while Cryptomus received more than $204 million from Garantex prior to the imposition of sanctions.
Cryptomus and Heleket operate through the Canadian-registered entity Xeltox Enterprises Ltd. In October 2025, the Canadian financial intelligence unit FINTRAC imposed a penalty of CAD 177 million on Cryptomus for violations related to anti-money laundering and counter-terrorist financing.
The sanctions, announced on October 8, 2026, require UK persons to cease all dealings with the designated businesses and mandate the freezing of any assets within UK jurisdiction. Compliance teams are now advised to screen wallets for exposure to these entities, as well as to Grinex, Garantex, and the A7 network.
