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04/27 04:27

Chainalysis: EU's New Sanctions on Russia Mark 'a

#BIO: DeSci Governance & Liquidity Chainalysis: EU's New Sanctions on Russia Mark 'a New Era' of Crypto Enforcement The blockchain intelligence agency highlighted that the recently issued sanctions package against Russia was perhaps the most comprehensive crypto-focused action by the EU, targeting the whole Russian cryptocurrency sector rather than individual actors, including the digital ruble in full and the RUBx token. Key Takeaways: The EU launched its 20th sanctions package, strictly targeting the entire Russian cryptocurrency industry. Chainalysis sees a new enforcement era, banning EU users from Russian crypto after A7A5 moved $93.3B. Global crypto compliance faces a shrinking environment as the EU’s 20th package targets VASPs like Meer. Chainalysis Heralds New Era Of Crypto Enforcement With EU’s 20th Sanctions Package Against Russia The European Union (EU) has recently issued the 20th package of sanctions against Russia. In addition to the usual designations, the bloc has introduced sweeping measures to try to stop inflows into the nation via the crypto sector. The new sanctions include what Chainalysis claims would be one of the bloc’s most comprehensive crypto sanctions to date, targeting the entire Russian cryptocurrency industry as threat actors instead of only designating individuals. Virtual asset service providers (VASPs) located in third countries are already included in the package, as Meer, a Kyrgyzstani exchange offering A7A5 trading pairs. The A7A5 ecosystem facilitated $93.3 billion in volume in less than a year, bridging sanctioned entities to the global financial system. This means there is a high risk of designating other exchanges, with high risks present for organizations based in Central Asia, the Caucasus, and the UAE. The RUBx token, a Russian ruble-backed stablecoin, and the digital ruble, Russia’s own central bank digital currency ( CBDC), are also designated in the package for the explicit purpose of sanctions circumvention.

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