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Russian cryptocurrency exchange
Garantex was a Russian cryptocurrency exchange. The company provided an exchange of Russian rubles to cryptocurrencies and international money transfers. It was tied to sanctioned individuals following the 2022 Russian invasion of Ukraine, including the Russian government, criminal organizations, and terrorist groups, such as Hamas and Hezbollah, among other illicit actors. It was co-founded in 2019 by Stanislav Drugalev, Sergey Mendeleev and Aleksandr Mira Serda.
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Japan sanctions Garantex exchange, highlighting urgent cryptocurrency compliance challenges and the need for global cooperation against illicit activities.
Japan imposed sanctions against Garantex: the exchange's assets are frozen, and Japanese companies and users are banned from making payments and transactions.