EU’s largest measures against Russia yet include escalation of crypto sanctions evasion

The European Union noted that Russia has become increasingly reliant on cryptocurrency to circumvent sanctions. What to know : The EU unveiled its largest Russia sanctions package in two years, imposing a total ban on the country's crypto providers and platforms and blocking the central bank’s digital ruble and the RUBx stablecoin. The measures target 20 Russian banks, four third-country financial institutions linked to Russia’s SPFS messaging network, and the Kyrgyz exchange TengriCoin. EU residents are now prohibited from transacting with Russian and Belarusian crypto and DeFi platforms or providing MiCA-regulated services.