EU includes crypto in fresh sanctions amendments

The changes made to the documents covering EU sanctions against Russia make clear that cryptoassets are included in the package.

EU hammer breaking a Russian-colored wall

The amended regulations refer to cryptoassets as “transferable securities” and note that restrictions on loans and credit apply to crypto as well.

The authors stressed that they intended to “confirm” and “clarify” their stance on crypto, rather than adding new measures, to “ensure the proper implementation of the restrictions in place”. The amendments come a few days after the EU launched a Sanctions Whistleblower Tool to help enforce the sanctions.

The EU also sanctioned an additional 160 individuals and expanded the list of state-owned enterprises subject to financing limitations.

The news adds to the spotlight on crypto as the European Parliament Committee on Economic and Monetary Affairs (ECON) prepares to vote on long-awaited regulation known as Markets in Crypto Assets (MiCA).