Ukraine’s Crypto Crackdown: Zelenskyy Takes on Russia’s Digital Wallets 💸

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President Volodymyr Zelenskyy, in a move that could be straight out of a spy novel, has approved a series of sweeping sanctions that blacklist over 70 individuals and 60 companies. These aren’t just any companies; they’re the ones accused of helping Russia dodge sanctions like a cat dodges water. 🐱💦

The list includes some of Russia’s biggest crypto miners, digital asset issuers, and payment intermediaries. These entities are suspected of moving vast sums of money to prop up Russia’s military and industrial sectors. It’s like they’re the financial equivalent of a secret underground railroad, but for digital assets. 🚂💻

But it’s not just Russian firms feeling the heat. Several foreign-based companies have also been slapped with penalties. Cyprus’s TokenTrust Holdings, Kazakhstan’s EXMO RBC, and UAE-based exchanges like AWX and Bitpapa—all previously sanctioned by the U.S. for similar activities—are now in the Ukrainian crosshairs. Ukrainian authorities accuse these companies of helping Russia convert cryptocurrencies into fiat currencies, effectively bypassing traditional financial systems. It’s like they’re the financial equivalent of a back alley fence, but for digital gold. 🏦💰

According to the president’s office, one firm alone has moved billions of dollars this year to benefit Russia’s defense sector. Officials say the reliance on crypto has grown as traditional banking routes have become increasingly inaccessible to Russia. It’s a bit like trying to send a letter when all the post offices are closed, so you turn to carrier pigeons. 📬🕊️

The latest sanctions freeze assets and prohibit business dealings within Ukraine. Zelenskyy described the crackdown as both a national move and a coordinated response with allies, vowing to shut down any remaining loopholes. It’s like he’s saying, “We’re not just closing the door; we’re nailing it shut.” 🔒🔨

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2025-07-07 13:27