Altcoins News
By James Thorp
1 / 15
Europe wants to ban all cryptocurrency deals tied to Russia. The move comes as Brussels tries to tighten the economic screws on Moscow over the Ukraine war, going way beyond…
2 / 15
The European Commission dropped a proposal that's pretty sweeping - no more dealing with any crypto service providers or platforms based in Russia, period.
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The US already hit Garantex, Russia's biggest crypto exchange back then, plus the A7 payment platform and its rouble-backed stablecoin A7A5. Didn't really work though.
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Europe's also eyeing a ban on certain dual-use goods to Kyrgyzstan after reports showed prohibited sales to sanctioned Russian entities.
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The proposal sits in limbo waiting for EU member states to hash it out. Representatives meet next week to dig into the details, and it's going to be a tough sell.
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Russia's not sweating it much. Kremlin spokesperson Dmitry Peskov called the EU's plans "another unfriendly step" on February 10 and said Russia will keep building its own…
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Major crypto platforms are watching this closely since they could get caught in the crossfire.
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Getting unanimous approval from all 27 EU countries is the real challenge here. The timeline's unclear, but the upcoming talks will show whether Europe can actually pull this off…
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EU foreign policy chief Josep Borrell pushed for unity on February 9. "The strength of our sanctions lies in our unity.
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Crypto analysts at Chainalysis noted on February 8 that while the ban could seriously hurt Russian crypto transactions, enforcement depends on global exchanges playing ball.
11 / 15
The G7 nations are watching too. They've coordinated with the EU on financial sanctions before, so if Europe moves forward, other Western allies might follow suit.
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European finance ministers plan to meet February 15 to look at what this crypto ban might actually mean.
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The European Central Bank jumped on board February 11, with President Christine Lagarde backing the proposal.
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Crypto exchanges with EU operations are scrambling to figure out their next moves. Kraken's reportedly reviewing its compliance protocols in case new rules drop.
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The crypto industry knows this could reshape how sanctions work in the digital age. If the EU actually pulls off a comprehensive ban, it might become the template for other…
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