The ostensibly shuttered exchange continues to operate through Telegram-based services that facilitate crossborder payments, according to Transparency International Russia (in exile).
The sanctions comes after an ICIJ investigation linked Garantex to actors in the Russian government and criminal organizations.
Prosecutors say Firoz Patel, who was the subject of a Pandora Papers investigation, attempted to hide more than $40 million worth of cryptocurrency.
ICIJ previously found that OneCoin’s founder Ruja Ignatova and some of her associates had bought properties worth millions in Dubai while promoting the fraudulent cryptocurrency scheme.
Officials touted upcoming moves to close regulatory loopholes that could expose the United States’ financial system to evolving threats.