The UK sanctioned Kyrgyz institutions, including Capital Bank of Central Asia and two crypto exchanges, citing $9.3 billion in A7A5 stablecoin transactions linked to Russian sanctions evasion, while Kyrgyz President Japarov rejects the allegations.
The UK expanded sanctions on Kyrgyz entities accused of facilitating Russian sanctions evasion. Targets include Capital Bank of Central Asia and two Kyrgyz crypto exchanges allegedly involved in transactions using the ruble-backed A7A5 stablecoin, which has handled $9.3 billion. Kyrgyz President Sadyr Japarov denied wrongdoing, asserting that the sanctions unfairly politicize Kyrgyzstan’s economic activity and pledging to defend national interests.