EU Slams Russia with 21st Sanctions Package, Targets $120B Crypto Network

The European Union (EU) has introduced its 21st sanctions package targeting Russia's $120 billion cryptocurrency network. This move aims to further cripple Russia's economy, which has been severely impacted by previous rounds of sanctions.

As part of the package, the EU is considering a ban on third-country crypto services providers for the first time. This means that companies from outside the EU will no longer be able to provide cryptocurrency services within the union's borders.

The EU has specifically targeted 14 unnamed crypto companies in its sanctions package. The exact nature of these targets and their impact on the wider cryptocurrency market remains to be seen.