TechFlow, October 5 — According to The Block, the cryptocurrency conference Token2049, which recently concluded in Singapore, has removed mentions of A7A5—a ruble-backed stablecoin project—from its website. The issuer of the project is under sanctions by the United States and the United Kingdom. The U.S. Office of Foreign Assets Control (OFAC) sanctioned the entity behind the ruble-backed A7A5 stablecoin in August, stating that the token "was created for Russian clients of A7 LLC (A7), a Russian company providing a cross-border settlement platform used to circumvent sanctions." The UK quickly followed suit, imposing sanctions on individuals supporting the project and claiming the token was "specifically designed to evade Western sanctions."
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