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Ukraine conflict—OFSI, FCA and BoE issue joint statement on Russian sanctions and the UK cryptoasset sector

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Published on: 14 March 2022

Published by LNB News

LNB News 14/03/2022

Document Information

Issue Date: 14 March 2022

Published Date: 14 March 2022

Jurisdiction(s): England, Northern Ireland, Scotland, Wales, Russian Federation and Ukraine

Article summary

The Office of Financial Sanctions Implementation (OFSI), the Financial Conduct Authority (FCA) and the Bank of England (BoE) have issued a joint statement on sanctions and the cryptoasset sector, after the UK and its allies imposed an unprecedented package of economic sanctions on Russia and Belarus in response to Russia’s invasion of Ukraine on 24 February 2022. The UK financial regulatory authorities reiterate that all UK financial services firms, including the cryptoasset sector, must play their part in ensuring sanctions are complied with.

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