The US State Department and Treasury Department have officially announced that they are imposing sanctions against the Russian cryptocurrency exchange Garantex, as well as its executives.
Points of attention
- The Russian authorities have yet to respond to the new sanctions, which come ahead of a summit between Donald Trump and Vladimir Putin.
- Recent events, such as Tether freezing $28 million of USDT on Garantex, have further shaken the Russian cryptocurrency exchange.
What is known about new US sanctions against Russia?
The US State Department and Treasury Department have announced sanctions against the Russian crypto exchange Garantex and its executives.
In addition, the US authorities have made it clear that a reward of up to six million dollars is being offered for information that will help detain the company's executives.
What is important to understand is that the Russian Garantex exchange is actively used by cybercriminals and criminal groups for the purpose of money laundering.
Over the past 6 years, the US claims that at least ninety-six billion dollars worth of cryptocurrency transactions have been conducted through it.
The Russian authorities have not yet reacted in any way to the new sanctions strike from the United States, which was inflicted on the eve of the summit between Donald Trump and Vladimir Putin.
By the way, on March 6, 2025, it became known that the stablecoin issuer Tether froze 2.5 billion rubles ($28 million) of USDT on the Russian cryptocurrency exchange Garantex, which caused the platform to suspend operations.
