The United States and the United Kingdom are investigating $20 billion in cryptocurrency transactions that violate Russian sanctions laws

ChainCatcher news, according to Bloomberg, the United States and the United Kingdom are reviewing over $20 billion in cryptocurrency transactions conducted through a Russian virtual trading platform. Sources say the payments under scrutiny were made using the Moscow-based cryptocurrency exchange Garantex with the dollar-pegged cryptocurrency Tether (USDT).

It is reported that the U.S. and the U.K. imposed sanctions on Garantex in April 2022, citing its alleged involvement in money laundering, terrorist financing, and ransomware attacks. This $20 billion transaction would be one of the most serious violations since the sanctions began.