Crypto Exchanges Allow Banned Russian Banks Access: Report (2)

Two major crypto exchanges still allow customers of sanctioned Russian banks to transact on their platforms, according to a report from digital asset data analytics firm Inca Digital.

Huobi and KuCoin enable people to trade crypto using debit cards issued by sanctioned Russian banks like Sberbank, the report found. Inca Digital Chief Executive Officer Adam Zarazinski said in an interview Friday that this could be a violation of US and European sanctions and that the transactions often involve Tether, a stablecoin that has faced its own scrutiny from regulators.

“Tether is frequently used by Russians to move money out of ...