
The European Commission’s proposal seeks to ban all Russian-linked crypto activity, including digital ruble trades, as part of the 20th sanctions package pending unanimous member state approval.
The European Commission has proposed a complete ban on cryptocurrency transactions with Russia to prevent sanctions evasion. The measure would target Russian crypto service providers and digital ruble transactions, forming part of the EU’s 20th sanctions package, expected by February 24. For adoption, the proposal requires unanimous agreement from all 27 EU member states. This move expands existing sanctions and aims to close potential loopholes in the use of digital assets for bypassing financial restrictions.