UK targets Kyrgyz bank, cryptocurrency exchanges for alleged role in sanctions circumvention by Russia
On August 20, the UK government announced a crackdown on Russia’s attempts to avoid western sanctions by exploiting Kyrgyzstan’s financial systems and crypto networks. According to the UK government, “with sanctions continuing to bite, Russia has turned to the Kyrgyz financial sector to channel money through opaque financial networks, including through the use of cryptocurrencies.