EU Slams Crypto Sanctions on Belarus Amid Russia Evasion Concerns
The European Union has expanded its sanctions on Belarus to include all crypto service providers, effective August 25. The move is part of an amended EU sanctions framework targeting Belarus over its involvement in Russia's war against Ukraine.
The restriction applies to Belarusian nationals and residents who own or control any entity providing 'any other crypto-asset services' as defined under the Markets in Crypto-Assets (MiCA) framework, including operating trading platforms, exchanging crypto assets, and executing client orders.
This expansion comes weeks after the end of MiCA's transition period on July 1, during which unlicensed crypto companies were ordered to wind down or face enforcement actions. The EU has been pushing to target crypto platforms accused of helping Russia evade sanctions imposed over its war in Ukraine.