PANews January 25 News, according to Bitsmedia, the Office of the Prosecutor General of Russia has designated Ukraine-based cryptocurrency exchange WhiteBit as an unwelcome organization. The regulatory agency believes that the exchange has been used to illegally transfer funds out of Russia, including financing the Ukrainian armed forces. Russia has also included WhiteBit’s parent company W Group and all its affiliates and subsidiaries on the list. The Prosecutor General’s Office stated that since 2022, WhiteBit’s management has transferred approximately $11 million to the Ukrainian military, with about $900,000 used to purchase drones, and accused the platform of collaborating 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 to complete amendments to regulate exchanges and cryptocurrency traders by July 1. The Central Bank plans to hold illegal activities of crypto market intermediaries accountable starting from July 1, 2027.