EU Slams Brakes on Russian Crypto Networks

The European Union has introduced its 21st sanctions package against Russia, targeting the country's $120 billion crypto network.

The new measures go beyond asset freezes and propose an outright ban on third-country crypto service providers from offering services to Russian entities or individuals.

This move is a significant escalation in the regulatory efforts to seal the gaps that digital assets have opened in the financial sanctions regime.

The EU's aggressive extraterritorial approach could fragment the global crypto landscape, forcing exchanges and platforms to make difficult choices: stop servicing Russian clients or lose access to the EU market.