Crypto Briefing • October 8th 2026, 3:24 PM
UK sanctions crypto platforms suspected of supporting Russian financial networks
Key Summary
The UK has sanctioned crypto exchanges and payment platforms suspected of helping Russia circumvent financial restrictions, according to a report from TRM Labs. The sanctions target 38 designations, including corporate owners of Cryptomus and Heleket, and Kyrgyzstan-based exchange TokenSpot.
Please see our real time news feed on our Home Page
Introduction
The UK has taken action against crypto exchanges and payment platforms it suspects of supporting Russia's financial networks.UK Sanctions
The UK sanctioned 38 designations, including corporate owners of Cryptomus and Heleket, and Kyrgyzstan-based exchange TokenSpot. TRM Labs assessed with high confidence that Cryptomus and Heleket were operationally linked, with shared infrastructure, personnel, branding, and liquidity sources.Cryptomus and Heleket
Cryptomus received more than $204 million from Garantex and sent it $101 million, according to TRM's April analysis. Heleket launched in January 2025, a month before Cryptomus introduced mandatory identity checks.TokenSpot
TokenSpot was separately designated for supporting Russia's financial services sector. TRM assessed with high confidence on October 6 that it operates as a front company for Grinex, which the firm considers a likely successor to Garantex.Other Targets
Other targets included Tsunami Payments and Processing KG, both registered in Kyrgyzstan. The UK also designated Processing KG director Ulan Bukabaev, Russian company Planeta, and Moscow bank Stolichny Kredit.Conclusion
TRM said the designations reflect a recurring pattern of Russia-linked services adopting new brands or shifting activity to parallel platforms after enforcement.#UK#Crypto#Russia#Sanctions#US