EU sanctions target Russian crypto exchanges, stablecoins and CBDC

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Source: European Commission President Ursula von der Leyen The sanctions package came after a meeting between European Commission President Ursula von der Leyen and Ukrainian President Volodymyr Zelenskyy discussing the bloc's support for Ukraine amid ongoing military attacks from Russian forces. According to the commission, Russia was becoming “increasing[ly] reliant on cryptocurrencies for international transactions” in reaction to global sanctions. This has led to measures targeting entities tied to the country using stablecoins like A7A5 and crypto operators linked to Belarus. Related: Russia introduces bill to criminalize unregistered crypto services Amid the United States and Israeli military actions against Iran, many lawmakers have been questioning whether the Islamic Republic could be circumventing sanctions using digital assets. Reports last month suggested that Binance fired individuals responsible for telling executives that that exchange facilitated $1 billion in transactions to entities tied to Iran. Magazine: AI-driven hacks could kill DeFi — unless projects act now

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