The decision comes amid warnings the war in Ukraine could become a 'crypto conflict'.
But Tom Keatinge, director of the Centre for Financial Crime and Security Studies , at the Royal United Services Institute think tank, warned exchanges that failed to follow the rules might find themselves cut off from financial services.
Criminals laundered $8.6bn of crypto-currency in 2021, up 30% on the previous year, according to a report by blockchain data company Chainalysis published prior to the invasion. But it was unlikely designated persons under sanctions would move around large quantities of crypto-currency now.
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