The UK added Russian-linked crypto payment brands to its sanctions list on Oct. 8, 2026, while Russia's largest bank secured central bank permission to offer cryptocurrency exchange services. The parallel moves illustrate how crypto payment access is being shaped by both restrictions and official approvals.
The Foreign, Commonwealth & Development Office listed Cryptomus, Heleket and Certa Payments Ltd. as variations of Xeltox Enterprises Ltd., under unique ID RUS3755. UK authorities said they suspect Xeltox has supported or benefited from Russia's government through the financial-services sector. The designation includes an asset freeze, trust service restrictions, director disqualification, internet-services sanctions and correspondent-banking and payment-processing restrictions.
The Office of Financial Sanctions Implementation has stated that cryptoassets fall within definitions of funds and economic resources. A separate designation, RUS3758, covers TokenSpot CJSC. Chainalysis reported that downstream funds from TokenSpot, Grinex and Meer converged on one HTX deposit address that received more than $308 million, although no observation period was specified and no direct link to Cryptomus or Heleket was established.
Xeltox also faced a C$176,960,190 administrative penalty from FINTRAC on Oct. 16, 2025, for 2,593 contraventions, including failures to submit suspicious-transaction reports and comply with Canada's Iran directive. The company appealed to the Federal Court.
On Oct. 12, Interfax reported that the Bank of Russia had added Sberbank to its register of organizations authorized to exchange digital currencies. The register now includes nine organizations, including VTB and T-Invest Lab. Sberbank plans to launch its first products on Dec. 1 through existing customer platforms such as SberBank Online, SberInvestments and SberBusiness. Bitcoin, Ether and USDT are expected to be among the initial supported assets.
First deputy chairman Alexander Vedyakhin previously said the bank intended to complete infrastructure and launch the digital depository by Dec. 1, 2026. Deputy chairman Anatoly Popov said Sberbank wants to accept Bitcoin, Ethereum and Tether's USDT as loan collateral, subject to regulatory permission. Registered exchange operators may buy and sell digital currencies in their own name outside organized trading, while digital depositories record and transfer digital currencies and digital rights. Transitional institutions must meet remaining compliance obligations by Sept. 1, 2027.
US sanctions remain relevant for international participants. The Treasury has designated Sberbank under Executive Order 14024, and OFAC guidance says virtual-currency transactions are subject to the same sanctions obligations as fiat transactions.
