A few cryptocurrency-related businesses were also singled out by the US Treasury Department in its most recent sanctions list.

In order to prevent Russia from violating sanctions linked to the conflict in Ukraine, the US Treasury Department has placed restrictions on a number of Russian financial services and technology companies, including blockchain startup Atomyze.

In the most recent round of penalties, the Office of Foreign Assets Control (OFAC) of the US Treasury Department named 13 organisations and 2 people. In order to stop Russia from exploiting the global financial system to achieve its war objectives in Ukraine, these sanctions target Russia's key financial infrastructure.

OFAC recognised five of these entities because the individuals who own or control them are currently under sanctions. Among the companies targeted was Atomyze, a fintech company under the ownership of Vladimir Potanin's Interros Holding investment group, a Russian billionaire under sanctions.

Because of Atomyze's collaboration with sanctioned Russian banks Rosbank and Sovcombank as well as its efforts to tokenize diamonds and precious metals for Russian businesses, the company has come under fire. Three weeks prior to the Russian invasion of Ukraine, in February 2022, Atomyze was granted the first official licence in Russia to issue and exchange digital financial assets. The first digital token backed by palladium made by Nornickel, an authorised metal production under Potanin's authority, was introduced by Atomyze in July 2022.

A fintech company called Lighthouse, which closed the first cash-backed Russian digital asset deal in June 2022, is among the other companies listed on OFAC's list of specially designated nationals. The Treasury noted that Lighthouse was collaborating with the main sanctioned lenders, VTB and Sberbank, as well as the sanctioned central bank of Russia.

B-Crypto, Masterchain, and Veb3 Technology are among the other financial technology companies that are under OFAC sanctions. The companies in concern and the US financial system are generally prohibited from transacting in US dollars under the sanctions.