US targets $17 billion Russia-linked crypto payment network using USDT as an escape route
Summary
The US Treasury designated Russia-linked A7 Network a significant transnational criminal organization, requiring firms under US sanctions jurisdiction to block and report covered property. FinCEN also proposed banning covered financial institutions from handling funds involving identified A7 sub-agents, including transfers tied to crypto addresses; the proposal is open for 30 days of public comment. Authorities say A7 helps sanctioned actors move money and uses its ruble-backed A7A5 token, converting it into liquid assets such as USDT for international payments. The action puts exchanges, OTC brokers and other intermediaries under greater scrutiny, while the proposed ban would add restrictions beyond the sanctions already in force.
