• Crypto exchange network is helping Russia skirt sanctions: Elliptic Elliptic says that despite increased regulatory pressure, a handful of crypto exchanges continue to serve sanctioned Russian entities. • Cointelegraph in your social feed Five crypto exchanges are allegedly helping Russians skirt international sanctions, filling a vacuum left by Russian exchange Garantex after it was taken down last year, according to crypto analytics firm Elliptic. • Elliptic said in areporton Saturday that the crypto exchanges Bitpapa, ABCeX, Exmo, Rapira and Aifory Pro are allowing Russian ruble-to-crypto conversions. • The crypto then can be transferred across borders “without passing through any intermediaries” and converted to another fiat currency. • “Despite growing regulatory pressure, many of these exchanges, some with nominal registrations outside Russia, still facilitate high volumes of cryptoasset trading linked to sanctioned entities,” the company said. • The network reportedly sprang up afterauthorities took downthe Russian exchange Garantex’s website in March, which washeavily sanctionedin mid-2022 for facilitating crypto linked to illicit activity and helping Russia skirt sanctions imposed after the country invaded Ukraine that year.
Article Summaries:
- Five crypto exchanges are allegedly helping Russians skirt international sanctions, filling a vacuum left by Russian exchange Garantex after it was taken down last year, according to crypto analytics firm Elliptic. Elliptic said in a report on Saturday that the crypto exchanges Bitpapa, ABCeX, Exmo, Rapira and Aifory Pro are allowing Russian ruble-to-crypto conversions. The crypto then can be transferred across borders “without passing through any intermediaries” and converted to another fiat currency. “Despite growing regulatory pressure, many of these exchanges, some with nominal registratio
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