EU to Include Cryptocurrency Platforms in New Sanctions Against Russia
The European Commission's new sanctions include measures targeting crypto platforms, aiming to close financial loopholes and tighten restrictions on Russia's access to digital assets.
Fact Check
The evidence strongly confirms the statement. Multiple sources, including official EU publications and industry analysis, show that the EU has already included cryptocurrency measures in its sanctions. Source 3 mentions a ban on crypto transactions in the 14th package, and Sources 1 and 11 explicitly state that the crypto exchange Garantex, a platform, was sanctioned in the 16th package.
- Reference: 1
Summary
The European Union's 19th round of sanctions against Russia, announced by European Commission President Ursula von der Leyen, introduces measures targeting cryptocurrency platforms for the first time. These actions aim to restrict crypto transactions, close financial loopholes, and further tighten sanctions enforcement, particularly in relation to Russian and third-country financial entities.
Terms & Concepts
- Cryptocurrency Platforms: Digital asset exchanges or services enabling users to buy, sell, or manage cryptocurrencies.
- Sanctions: Penalties or restrictive measures imposed by governments to influence a target nation's actions, often including financial and trade restrictions.