The Bank of England, HM Treasury and the Financial Conduct Authority issued a joint statement on sanctions and crypto assets amid Russia's invasion of Ukraine.
is the first of its kind from UK's financial regulators, and joins the growing body of public issuances on the topic since the invasion began last month.
In its statement, the BoE and the FCA said that"financial sanctions regulations do not differentiate between cryptoassets and other forms of assets." "The use of cryptoassets to circumvent economic sanctions is a criminal offence under the Money Laundering Regulations 2017 and regulations made under the Sanctions and Anti-Money Laundering Act 2018," they continued.
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