Cryptocurrencies
2026-06-28 · Treasury · 13856 · Official question
Question
To ask the Chancellor of the Exchequer, pursuant to the answer of 21 May 2026, to Question 2120, on Cryptocurrencies, and further to the HMT press release, "UK cracks down on backdoor Russian sanctions evasion with tough new measures", of 26 May 2026, wha
Answer
HMT has assessed that cryptocurrencies, including USD Tether, are increasingly involved in sanctions evasion activity. OFSI’s Cryptoasset Threat Assessment was published in July 2025 and highlighted the use of USD Tether by designated Russian cryptoasset ...