[UK Imposes New Sanctions on Multiple Crypto Trading Platforms, Accusing Them of Assisting Russia in Evading Trade Restrictions] BlockBeats News, May 27: The UK has announced a new round of sanctions targeting several cryptocurrency trading platforms, P2P trading services, and shadow financial networks, accusing them of assisting Russia in circumventing Western trade restrictions and providing financial channels for war funding. Platforms blacklisted in this round include EXMO Exchange, Bitpapa, Rapira, and Nueva Cryptologia. The UK claims these platforms are linked to the Kremlin-backed 'A7' payment network, which reportedly processed over $90 billion in fund flows last year, facilitating settlements for Russian oil exports and financing military procurement. The new sanctions include global asset freezes, a ban on UK financial institutions providing services, and restrictions on the operational channels of these platforms in multiple countries. The affected regions also include transit jurisdictions such as Kyrgyzstan, Georgia, Panama, and the UAE. The UK government stated that this move aims to dismantle Russia's 'shadow financial infrastructure' used for cross-border payments and sanction evasion via crypto assets. [Original Link]