UK sanctions crypto payment processors Cryptomus, Heleket, and exchange TokenSpot

The UK has added three crypto businesses to its Russia sanctions list: payment processors Cryptomus and Heleket, and the Kyrgyzstani exchange TokenSpot CJSC. The designations, announced on October 8, 2026, were part of a package of 38 Russia-linked entities. The legal effect is simple and immediate. UK persons must stop dealing with the designated entities, and any of their assets within UK reach must be frozen. What the UK is alleging The targeted organizations are allegedly involved in helping Russia evade the financial sanctions placed on it. According to the research findings, the designations draw on an assessment from April 2026 that identified operational connections among Cryptomus, Heleket, and TokenSpot, suggesting a coordinated effort to circumvent regulatory scrutiny following significant compliance failures. Blockchain analytics firm TRM Labs has supplied much of the public detail on how these businesses connect. TRM Labs found that TokenSpot facilitated over $950 million in transfers to Grinex, Garantex, and the A7 network. Grinex and Garantex are themselves sanctioned entities that have been tied to illicit financial activity. On October 6, 2026, two days before the ...