EU proposes crackdown on crypto transactions with Russia to curb sanctions evasion

The European Commission is proposing its most aggressive measures yet against digital assets by seeking a full ban on crypto transactions tied to Russia to strengthen sanctions enforcement. This proposal, part of the 20th Sanctions Package, targets crypto platforms, intermediaries, and payment channels facilitating these transactions, moving beyond just sanctioning Russian entities to disrupting the global systems enabling evasion. Officials noted that targeting individual Russian exchanges has been ineffective, citing concerns over successors to sanctioned exchanges like Garantex and the emergence of new ruble-pegged stablecoins. The sweeping measure also includes a complete prohibition on transactions involving the digital ruble and seeks export restrictions on certain dual-use goods to Kyrgyzstan. The proposal requires unanimous approval from the EU's member states.

(Source：Crypto Briefing)