Cryptoassets Threat Assessment
Contents
4
Threat Assessment
Cryptoassets
Threat Assessment
July 2025
© Crown copyright 2025
This publication is licensed under the terms of the Open
Government Licence v3.0 except where otherwise stated.
To view this licence, visit nationalarchives.gov.uk/doc/opengovernment-licence/version/3
Where we have identified any third party copyright information
you will need to obtain permission from the copyright holders
concerned.
Any enquiries regarding this publication should be sent to:
[email protected]
1
Cryptoassets
OFSI Threat Assessment
Contents
Introduction
4
Key Judgements
7
Threat Overview
8
Strengthening Compliance
11
Threats
20
Further Resources
32
2
Cryptoassets
OFSI Threat Assessment
Since January 2022, just over 7% of all
suspected breach reports submitted to OFSI
involved cryptoasset firms.
3
Introduction
This publication is one in a series of sector-specific assessments by OFSI addressing threats to
UK financial sanctions compliance. 1 The UK sanctions landscape has changed significantly since
the illegal Russian invasion of Ukraine in February 2022 and the subsequent implementation
of unprecedented financial sanctions on Russia by the UK Government and international
partners. Recognising the evolving nature of financial sanctions, OFSI is publishing this series of
assessments to assist UK firms in better understanding and protecting against …
Threat Assessment
Cryptoassets
Threat Assessment
July 2025
© Crown copyright 2025
This publication is licensed under the terms of the Open
Government Licence v3.0 except where otherwise stated.
To view this licence, visit nationalarchives.gov.uk/doc/opengovernment-licence/version/3
Where we have identified any third party copyright information
you will need to obtain permission from the copyright holders
concerned.
Any enquiries regarding this publication should be sent to:
[email protected]
1
Cryptoassets
OFSI Threat Assessment
Contents
Introduction
4
Key Judgements
7
Threat Overview
8
Strengthening Compliance
11
Threats
20
Further Resources
32
2
Cryptoassets
OFSI Threat Assessment
Since January 2022, just over 7% of all
suspected breach reports submitted to OFSI
involved cryptoasset firms.
3
Introduction
This publication is one in a series of sector-specific assessments by OFSI addressing threats to
UK financial sanctions compliance. 1 The UK sanctions landscape has changed significantly since
the illegal Russian invasion of Ukraine in February 2022 and the subsequent implementation
of unprecedented financial sanctions on Russia by the UK Government and international
partners. Recognising the evolving nature of financial sanctions, OFSI is publishing this series of
assessments to assist UK firms in better understanding and protecting against …