According to reports, the Treasury Department and the White House have warned U.S.-based individuals and companies not to support crypto transactions to Russian nationals or banks.

According to regulations from the Treasury Department’s Office of Foreign Assets Control scheduled to go into effect on March 1, U.S. residents may not Make use digital currencies to benefit Russia’s government — including the country’s central bank — as an attempt to circumvent U.S. sanctions in response to the invasion of Ukraine. The guidelines equated crypto transactions to “deceptive or structured transactions or dealings” in attempting to evade sanctions.