Gabe Amo, Brad Sherman, and Gerald E. Connolly sent an official request to US Treasury Secretary Janet Yellen, expressing concern about the exchange’s active assistance to Russian companies that use cryptocurrencies to evade economic sanctions.
Members of Congress requested information from the Secretary of the Treasury on how the department is combating sanctions evasion by the Moscow crypto exchange, and what the role of USDT stablecoins is in this. Parliamentarians called for the use of additional tools that would deprive Garantex of the ability to conduct transactions with USDT or other assets.
In the spring of 2022, the US Office of Financial Assets Control (OFAC) added the Garantex exchange to the sanctions list “for willful failure to comply with laws aimed at combating money laundering and the financing of terrorism.”
Earlier, Bloomberg, citing its own sources, reported that US and UK authorities began to study transactions with USDT totaling over $20 billion that passed through the Russian Garantex exchange.
Source: Bits
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