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Treasury named the Chinese-language marketplace along with SafeW, the encrypted messenger Xinbi moved onto in 2025, and Anwen, which built its XinbiPay wallet. OFAC puts the platform's lifetime flow above $24 billion.
The $560,000 in confiscated cryptocurrency is the smaller half of the operation. The FBI also came away with information on thousands of people who tried to give.
Deputy chairman Anatoly Popov called the forecast conservative, because most Russian crypto flow will keep bypassing licensed venues and professional participants have until July 2027 to get authorised.
OFAC's digital assets determination sits alongside four others under Executive Order 13902, and landed with nearly 60 designations including a UAE-based broker Treasury says moved over $100 million in crypto for the Qods Force.
The exchange answered a Kremlin investigator with the passport scan, address and phone number of a customer who had sent $700 to Ukrainian military fundraisers. He has been in a Moscow jail awaiting trial for almost two years.
The Sunday freeze completes a phased seventeen-day cutoff that already caught five smaller venues. Any transfer to a blocked platform trips Binance's compliance queue and can lock the sending wallet.
Two IRGC-linked entities and eight shadow-fleet tankers were designated on 29 July, cutting the digital rail Tehran opened in May to charge Strait of Hormuz tolls in bitcoin and USDT.
Iran's new Hormuz Safe platform offers cryptographically verified insurance certificates against vessel inspection, detention and confiscation — payable in bitcoin. The revenue target is $10 billion a year. CoinDesk and Bloomberg cannot confirm that a single policy has actually been sold.
The European Union's 20th sanctions package against Russia takes effect on May 24, banning EU persons from any transaction with Russian or Belarusian crypto-asset service providers — and, for the first time, with decentralised platforms operating from those jurisdictions.
The EU's 20th sanctions package against Russia includes a total ban on crypto transactions with Russian-based providers, the bloc's most comprehensive crypto-specific enforcement action to date.
The stablecoin issuer blocked two TRON wallets holding a combined $344 million after OFAC designated them as part of Iran's sanctions-evasion network. Treasury Secretary Bessent called it part of a broader campaign to cut off Tehran's financial lifelines.
FinCEN and OFAC jointly proposed rules that would treat permitted stablecoin issuers as financial institutions under the Bank Secrecy Act for the first time, imposing anti-money laundering programmes, suspicious activity reporting, and sanctions compliance obligations.
The US Treasury's OFAC designated Zedcex Exchange Ltd and Zedxion Exchange Ltd on January 30, 2026, marking the first-ever sanctions action against a crypto exchange.
KnownOrigin quietly banned artists from Iran, Cuba, and other sanctioned nations on 15 June. eBay closed its acquisition of the Manchester marketplace seven days later. The community that built the platform is now asking whether the founders traded their principles for a payday.
