On 26.05.2026 the UK applied sanctions directly to cryptocurrency exchanges, resulting in more than $10 million of Russian users' funds being frozen.

Sanctions and targeted platforms

The measures target a payments network named A7 and list 18 organisations and individuals linked to circumvention schemes.

The UK designated platforms and persons under its anti-Russia regime, naming EXMO, Bitpapa, Rapira and Aifory Pro among the entries.

Also listed was Huobi Global, operator of the exchange HTX, which reported about $3.3 trillion in trading volume last year.

Exchange responses and user impacts

Major trading venues including Bybit, Binance and Bitget began labelling assets connected to sanctioned Russian services as "dirty", increasing compliance scrutiny.

Some transfers were blocked or routed for extra checks, and some users received withdrawal demands within 24 hours before accounts were restricted.

Platforms reportedly review historical transactions, flagging accounts for links to sanctioned wallets even if transfers occurred years earlier via services like BestChange.

Account recovery and support challenges

Users trying to restore access face lengthy processes as support systems rely on AI assistants and human responses can take several weeks.

Exchanges warn that proving provenance may require extensive documentation and chain analysis, complicating cases where transactions involve multiple intermediary services.

Operational adjustments

Market participants and compliance teams are adjusting procedures to the new UK measures, increasing transaction monitoring and onboarding checks across platforms.