News Summary

• On October 8, the u.k. issued sanctions against Cryptomus for processing payments that benefit the Russian government and its financial institutions.
• The company has changed its name several times since emerging in 2022, most recently to “ Heleket ” Last year, Canada levied a record CAD $176 million fine against the platform for anti-money laundering violations.
• The sanctions are notable because they are the first known instance of a “Five Eyes” country sanctioning a cryptocurrency operation incorporated in another Five Eyes jurisdiction.