Russian crypto payments founder charged with sanctions evasion

The case highlights the urgent need for stablecoin regulation.

The DOJ has filed criminal charges in Brooklyn federal court against New York-based Russian crypto startup founder Iurii Gugnin. He was accused of laundering over $500m in payments made on behalf of foreign customers linked to sanctioned Russian financial institutions such as Sberbank, VTB, Sovcombank, and Tinkoff, and distributors with

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