IDAXA calls for industry cooperation in enforcement of sanctions

IDAXA seeks the cooperation of the global Virtual Asset Service Provider (VASP) community, as well as other financial institutions and businesses facilitating digital financial transactions, to identify and prohibit transactions with or between institutions and individuals identified as contributing to the war against Ukraine or any other conflict of war, aggression or terrorism. We support the risk based approach and compliance measures to ensure crypto transactions are not used as a means to circumvent the restrictions announced by the regulators.