The European Union is preparing new restrictions against crypto platforms that, according to Brussels, help Russia circumvent sanctions. The measures may be included in the 21st sanctions package, which is planned to be presented on June 10.
Around ten crypto platforms, including those operating through third countries, may fall under the restrictions. European Commission President Ursula von der Leyen stated that the EU for the first time wants to introduce a mechanism for a complete ban on providing services related to crypto-assets outside the bloc.
For the first time, we will introduce the possibility of a complete ban on the provision of services related to crypto-assets in third countries. This will send a strong signal to countries hosting platforms that help Russia circumvent our sanctions.
In addition to crypto services, the European Commission will propose banning transactions with 35 Russian banks. In total, up to 90 banks may be included in the new package, but their names have not yet been disclosed.
Earlier, similar measures were introduced by the United Kingdom. Sanctions targeted crypto services and platforms linked to Russia, including A7, Rapira, Bitpapa, EXMO, and HTX. After this, some market participants have already begun to restrict operations with the sanctioned platforms.
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