UK sanctions crypto exchanges Cryptomus, Heleket, and TokenSpot

Heleket: Heleket operates as a parallel cryptocurrency payment processor and exchange service that TRM Labs assessed in April 2026 as likely launched by Cryptomus affiliates to sustain large-scale operations after compliance pressures. It shares infrastructure, liquidity sources, and transaction patterns with Cryptomus. The UK included it as a name variation of the same designated entity in the October 8 sanctions for continued support of Russian evasion efforts. Cryptomus: Cryptomus is a Russia-linked cryptocurrency payment processor and exchange registered in Canada under Xeltox Enterprises Ltd. It facilitates crypto transactions for purchasing goods and services while operating exchange services. The platform is directly referenced in the October 8 UK sanctions package for its alleged role in supporting Russian financial services and sanctions evasion through linked activities. TokenSpot: TokenSpot is a cryptocurrency exchange based in Kyrgyzstan that functions as a front for the sanctioned Russian exchange Grinex, sharing on-chain infrastructure and wallet operations. It processes transactions involving Russian financial networks. The UK designated it on October 8 for supporting the Russian financial sector and facilitating transfers to previously sanctioned platforms. Regulatory Focus: Recent UK actions emphasize disrupting Kremlin-backed networks like A7 that exploit crypto platforms to bypass financial restrictions on Russia. Sanctions Package: The UK announced 38 new Russia-related designations on October 8 targeting entities suspected of enabling sanctions evasion through crypto and payment channels.