Joint statement from UK financial regulatory authorities on sanctions and the cryptoasset sector

Joint statement from UK financial regulatory authorities on sanctions and the cryptoasset sector

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Joint statement from UK financial regulatory authorities on sanctions and the cryptoasset sector

In March 2022, following the invasion of Ukraine, UK financial regulators issued a joint statement clarifying that cryptoassets are subject to the same sanctions regulations as traditional assets. The FCA, Bank of England, and OFSI emphasized that using crypto to circumvent economic sanctions is a criminal offense.

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