Russia Sanctions 17-Year-Old British Researcher and Four Other UK Nationals Over Crypto Laundering Report
Russia's Foreign Ministry sanctioned Alexander Browder and four other British nationals on Wednesday for a report alleging Russian use of crypto to evade sanctions.
riotimesonline.com" Browder and four other British nationals will now be banned from entering Russia. The sanctions were announced in a statement by the ministry. Browder's report, titled "Confronting the Illicit-Finance Hydra in Crypto Markets: Protecting Retail Investors and Disrupting Hostile Government Exploitation," was published by the Henry Jackson Society think tank in March.
The report stated that around $350 billion had been laundered by various states including Russia, Iran and North Korea. The report described a Ruble-backed stablecoin known as A7A5 as "one of the most prevalent issues facing the West" in the fight against laundering.
The UK Foreign Office says Russia uses tokens like A7A5 to evade western sanctions and help fund its military, moving money through crypto exchanges.
The British government announced in May a series of sanctions against individuals linked to the network behind A7A5. The network claimed to have moved more than $90 billion last year. Browder called his sanctioning "a badge of honour" in posts on X.
" "I have exposed their Achilles’ heel," he wrote. " Browder is one of the youngest people to have been sanctioned by Moscow.
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