The U.K has imposed sanctions on a leading crypto exchange, a stablecoin issuer, and a network of Russia-linked payment firms in what officials described as one of the country’s toughest crackdowns yet on the use of digital assets to evade sanctions tied to the war in Ukraine.

The measures, announced by the U.K. Foreign, Commonwealth & Development Office, targeted 18 entities and individuals allegedly connected to Russia’s ‘illicit financial infrastructure,’ including payment processors, crypto exchanges, and stablecoin issuers accused of helping move funds outside the traditional banking system.

Among the sanctioned firms were

• Huobi Global S.A., operator of HTX, along with
• Rapira Group,
• Aifory,
• Open…