EU hits A7A5 stablecoin, HTX exchange with new economic sanctions

Homepage > News > Business > EU hits A7A5 stablecoin, HTX exchange with new economic sanctions European authorities keep lowering the boom on Russia’s sanctions-dodging stablecoin and the HTX exchange that helps keep it moving. EU hits A7A5 stablecoin issuer with new sanctions HTX flipping tokens between wallets/networks to evade U.K. seizure order Circle buys IBM blockchain patents, wheels & deals in South Korea Study notes vulnerabilities of x402-based agentic AI payments On July 23, the Council of the European Union announced the adoption of its 21st package of “restrictive measures” aka economic sanctions against Russia for its 2022 invasion of Ukraine. EU Foreign Affairs Council chair Kaja Kallas noted that the latest package, which takes effect on August 23, targeted “over a hundred banks and crypto operators,” including some very familiar crypto faces. The EU added four more designations related to the A7 network, the Kyrgyzstan-based/Russia-backed force behind the A7A5 ruble-backed stablecoin. Since its launch last year, A7A5 has supplanted Tether’s USDT stablecoin as Vladimir Putin’s primary crypto vehicle for dodging Western sanctions. The newly targeted enti...