EU Imposes Sanctions on Russian Cryptocurrency Platforms

The European Union has introduced a new set of sanctions aimed at restricting Russia's access to cryptocurrency services. As part of its 21st package, the EU is proposing a ban on transactions with 11 cryptocurrency platforms, in an effort to broaden existing restrictions.

According to sources within the European Commission, the measures are designed to target networks that have been accused of assisting Russia in evading sanctions related to the war in Ukraine. The proposal includes additional designations and tighter controls for crypto-asset services provided to certain third countries.