"Surge in sanctions evasion via crypto assets… illegal transaction volumes seen hitting an all-time high"
Summary
- Chainalysis said sanctioned entities received at least $104 billion worth of crypto assets last year, up about eightfold from 2024.
- Over the same period, the total value of illicit crypto-asset transactions was estimated at about $154 billion, the highest level on record; if the current trend persists, the scale of illicit financial activity could reach a new all-time high in 2025.
- The report said the ruble-pegged stablecoin A7A5 served as a cross-border trade settlement system for sanctioned Russian companies, processing about $93.3 billion in transactions in less than a year after launch.
Forecast Trend Report by Period
An analysis has found that cases of sanctioned countries—such as Russia, Iran and North Korea—using crypto assets (cryptocurrencies) to evade sanctions are rising sharply.
According to crypto-focused outlet CoinDesk on the 5th (local time), blockchain analytics firm Chainalysis said in a report that sanctioned entities received at least $104 billion worth of crypto assets last year. That is about an eightfold increase from 2024.
Over the same period, the total value of illicit crypto-asset transactions was estimated at about $154 billion, marking the highest level on record. Chainalysis projected that if the trend continues, the scale of illicit financial activity could set a new all-time high in 2025.
The report specifically cited A7A5, an issuer of a ruble-pegged stablecoin, as a case in point. The token was assessed to have functioned as a payment system enabling sanctioned Russian companies to carry out cross-border trade settlements.
A7A5 is known to have processed about $93.3 billion in transactions in less than a year since its launch.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
