The European Union (EU) released its “biggest package” of sanctions in two years against Russia, describing the measures as far-reaching and restrictive. They specifically target crypto with a total ban on providers and platforms established in that country.
The bloc also banned Russia’s central bank digital currency (CBDC), the ruble-pegged RUBx stablecoin and all EU support for the development of the digital ruble.
The sanctions include measures against 20 Russian banks and four third-country financial institutions and entities connecting to the Russian System for Transfer of Financial Messages (SPFS), the Russian banking messaging network, according to a Chainalysis report.
The blockchain intelligence firm said the EU also imposed sanctions on TengriCoin, a Kyrgyz crypto exchange operating as Meer.kg, where significant amounts of the government-backed stablecoin A7A5 are traded.
Source: X.com
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