The European Union has imposed its 19th sanctions package on Russia, introducing the first crypto-related restrictions since the Ukraine war began.
The measures ban the ruble-backed A7A5 stablecoin and prohibit Russian crypto payment providers from operating in the EU. The Kyrgyz issuer of A7A5 and the unidentified exchange trading it are also blacklisted.
The EU said Russia increasingly uses crypto to evade sanctions. Entities from China, Kyrgyzstan, Tajikistan, Hong Kong, and the UAE were also penalized for helping Moscow bypass restrictions.
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