FILE PHOTO: City workers walk past the Bank of England in London February 13, 2008. Interest rates won’t fall as sharply this year as financial markets have predicted, the Bank of England signalled on Wednesday, although at least one more cut in borrowing costs is probably still on the cards. REUTERS/Toby Melville
March 11, 2022
LONDON (Reuters) – Financial services firms including those in the cryptoasset sector were warned by Britain’s regulatory bodies on Friday that they were expected to ensure sanctions imposed against entities and individuals in Russia and Belarus were complied with.
“We are working closely with partners in government and law enforcement both here and abroad, including regulatory authorities, to share intelligence and act to prevent sanctions evasion, including through cryptoassets,” the financial regulators said.
“We also remain ready to act in the event of sanctions breaches,” added the statement from the Office of Financial Sanctions Implementation (OFSI), the Financial Conduct Authority (FCA) and the Bank of England.
(Reporting by Michael Holden; editing by Diane Craft)
Source: One America News Network
