The United States imposed sanctions on Sergey Sergeevich Ivanov of Russia and a cryptocurrency firm, Cryptex, a statement by the US Treasury Department website showed on Thursday. "Treasury's Financial Crimes Enforcement Network (FinCEN) is issuing an order that identifies PM2BTC—a Russian virtual currency exchanger associated with Russian individual Sergey Sergeevich Ivanov (Ivanov)—as being of "primary money laundering concern" in connection with Russian illicit finance." the statement read. "Concurrently, the Office of Foreign Assets Control (OFAC) is sanctioning Ivanov and Cryptex—a virtual currency exchange registered in St. Vincent and the Grenadines and operating in Russia." The Treasury noted that it is undertaking these actions as part of a coordinated international effort to disrupt Russian cybercrime services. "Treasury's actions aim to protect US national security and the integrity of the US financial system by cutting off illicit financial institutions from the US market. These actions exemplify how Treasury is leveraging international co-operation and all available tools to counter the ransomware threat and target Russian illicit financial activity." Bradley T. Smith, Acting Under Secretary of the Treasury for Terrorism and Financial Intelligence, said: "The United States and our international partners remain resolute in our commitment to prevent cybercrime facilitators like PM2BTC and Cryptex from operating with impunity," "Treasury, in close coordination with our allies and partners, will continue to use all tools and authorities to disrupt the networks that seek to leverage the virtual assets ecosystem to facilitate their illicit activities." Attribution: The US Treasury Department
