US Treasury designates Russian A7 Network as criminal organization
CIE News ·
The US Treasury designated Russia's A7 Network as a transnational criminal group, proposing rules to bar roughly 348,000 institutions, including crypto exchanges, from handling its transactions, Decrypt reported.
The U.S. Treasury's Office of Foreign Assets Control designated the Russia-linked A7 Network as a significant transnational criminal organization on October 2, 2026, Decrypt reported. FinCEN separately proposed a rule under the Combating Russian Money Laundering Act to prohibit financial institutions, including crypto exchanges, from processing transactions involving the operation's front companies, known as Sub-Agents.
According to FinCEN, the network uses a ruble-backed token called A7A5 on Ethereum and Tron to mirror fiat transfers and bypass standard banking channels. More than 180 entities reportedly processed over $179.1 billion in A7A5 between February 2025 and June 2026, routing primary activity through sanctioned platforms Garantex and Grinex.
The proposed restrictions aim to bind roughly 348,000 financial entities to cut the network off from the U.S. financial system. Treasury alleged the shadow banking system assisted Iranian sanctions evasion and handled proceeds connected to North Korean exchange hacks.