EU hits Russia with massive 21st sanctions package targeting $120B crypto network
CoinDesk 2026-07-24 11:58:06
Context: The European Union is imposing a new, 21st sanctions package on Russia, which includes a ban on third-country crypto services providers and targets a $120 billion crypto network. The sanctions aim to further restrict Russia's access to financial services and cryptocurrency networks. The EU has identified 14 crypto companies to be targeted, although their names have not been disclosed.
Key Facts
- The European Union's 21st sanctions package against Russia includes a ban on third-country crypto services providers, marking the first time such a measure has been considered.
- The sanctions package targets a crypto network worth $120 billion, as part of the EU's efforts to restrict Russia's access to financial services and cryptocurrency networks.
- The EU has identified 14 crypto companies to be targeted by the new sanctions, although the names of these companies have not been publicly disclosed.