Written Question·Treasury·UIN 13856

Cryptocurrencies

Tabled: 29 June 2026

Answered: 6 July 2026

Question

Kevin Hollinrake

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

Rachel Blake

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 ...

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