The UK Foreign, Commonwealth & Development Office placed crypto payment brands Cryptomus and Heleket under sanctions on October 8, 2026, designating Xeltox Enterprises Ltd. as their shared operator. The notice also lists Certa Payments Ltd. as a variation of Xeltox's name.
The UK stated it has reasonable grounds to suspect Xeltox has supported or benefited from Russia's government through the Russian financial-services sector, citing its ownership of Cryptomus and activities linked to Heleket.
Sanctions Measures
The designation imposes an asset freeze, restrictions on trust services, director disqualification, internet-services sanctions, and correspondent-banking and payment-processing restrictions. UK credit and financial institutions are prohibited from establishing or continuing correspondent relationships with Xeltox and from processing payments to, from, or through it.
Internet-access services, social-media platforms, and application stores must take reasonable steps to prevent UK users from accessing content, websites, or applications supplied by the designated entity.
Implications for Fund Transfers
The Office of Financial Sanctions Implementation (OFSI) applies UK financial sanctions to people and activities within UK territory and to UK nationals and entities established under UK law. Cryptoassets fall within the broad definitions of funds and economic resources under sanctions law.
Whether a customer can withdraw funds depends on the transfer's legal basis, the parties involved, and applicable jurisdiction. Moving a customer's existing balance requires either an applicable exception or a license from OFSI. General licenses can expire, be amended, or be revoked.
A successful provider switch requires two separate conditions: a lawful transfer of the existing balance and a receiving route able to process it.
Additional Regulatory History
Xeltox has a Canadian compliance history preceding the UK designation. Canada's Financial Transactions and Reports Analysis Centre (FINTRAC) confirmed an administrative monetary penalty of C$176,960,190 on October 16, 2025, for 2,593 contraventions including failures to submit suspicious-transaction reports and comply with Canada's Iran directive. Xeltox appealed the penalty to Federal Court.
