EU Slaps Crypto Ban on Belarusian Nationals Amid Russia Sanctions
The European Union (EU) has introduced new sanctions against Belarus, banning its nationals and residents from owning or controlling any crypto-asset service provider authorized under the Markets in Crypto-Assets (MiCA) regulation. This move is part of the EU's broader sanctions framework linked to Russia's war against Ukraine.
The ban covers all MiCA service categories, including operating crypto trading platforms, exchanging digital assets, and managing crypto portfolios. It also prohibits ownership and control of EU-authorized crypto firms, effectively cutting off Belarusian nationals from participating in the European crypto market.
The decision entered into force on July 24, but enforcement won't begin until August 25, giving affected firms a narrow window to restructure their governance structures. This is not an isolated move; the EU also adopted its 21st sanctions package against Russia on the same day, extending a transaction ban to 14 crypto-related platforms outside the bloc and introducing a new mechanism to prohibit transactions with foreign crypto providers helping Russia circumvent sanctions.