Russia designates Ukrainian cryptocurrency exchange WhiteBit and its parent company as undesirable organizations

According to Bitsmedia, the Office of the Attorney General of Russia has listed the Ukrainian cryptocurrency exchange WhiteBit as an undesirable organization. The regulator believes that the exchange has been used to illegally transfer funds out of Russia, including to finance the Ukrainian armed forces. The Russian side has also included WhiteBit's parent company W Group and all its affiliates and subsidiaries on the list.

The Attorney General's Office stated that since 2022, the management of WhiteBit has transferred approximately $11 million to the Ukrainian military, of which about $900,000 was used for the procurement of drones, and claimed that the platform cooperates with the Ukrainian Ministry of Foreign Affairs to provide technical support for the United24 crypto donation platform. Currently, there are no registered cryptocurrency exchanges under Russian law. The Central Bank of Russia hopes that legal amendments to regulate exchanges and cryptocurrency traders can be completed by July 1. The Central Bank of Russia plans to hold intermediary institutions in the crypto market accountable for illegal activities starting from July 1, 2027.