The EU's 21st Round of Sanctions on Russia Expands the Crypto Transaction Ban to 14 Third-Country Platforms

ME News reports that on July 23 (UTC+8), the Council of the European Union adopted its 21st package of sanctions against Russia. In the crypto sector, this round extends transaction prohibitions to 14 crypto service platforms registered in Georgia, Panama, the UAE, the Marshall Islands, Kyrgyzstan, and Belarus, and adds four entities linked to the A7 cross-border payment network. The EU has also introduced, for the first time, a country-wide ban on crypto services in third countries, enabling it to prohibit EU-based operators from transacting with any third-country crypto service providers used by Russia to circumvent sanctions. In the financial sector, this round imposes asset freezes on 94 Russian banks and major financial institutions and expands transaction prohibitions to an additional 33 Russian credit and financial institutions. The updated sanctions list now comprises 218 items (48 individuals and 170 entities), marking the largest expansion by the EU in four years. (Source: Foresight News)