CoinDesk·3 min read·medium
EU hits Russia with massive 21st sanctions package targeting $120B crypto network
O
Olivier Acuna
✦AI Summary
The European Union has introduced its 21st sanctions package against Russia, targeting a $120 billion cryptocurrency network used to evade existing financial restrictions. The measures include asset freezes on 94 financial institutions and new powers to ban transactions with crypto providers facilitating Russian evasion.
The EU is also extending its transaction ban to 14 unnamed crypto-related service platforms based in Georgia, Panama, the United Arab Emirates (UAE), the Marshall Islands, Kyrgyzstan and Belarus.
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