The European Union plans to impose sanctions on 11 cryptocurrency platforms collaborating with Russia.

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Odaily Planet Daily News: Kaya Kallas, the High Representative for Foreign Affairs and Security Policy of the European Union, said the EU plans to introduce restrictions on 11 crypto platforms in the next (21st) round of sanctions, alleging that these services help Russian authorities and businesses bypass international sanctions.

In addition, the EU will further strengthen bans on certain services related to crypto-assets for some third countries, expand the sanctions list, and prohibit transactions with the 11 crypto platforms mentioned above. European Commission President von der Leyen said the new sanctions are intended to increase pressure on institutions that help Russia maintain international financial transaction channels.

Beyond crypto-related services, the new round of sanctions will also target the traditional financial sector. Around 90 Russian banks may face additional restrictions, with 31 of them expected to be completely banned from trading. Previously, in the 20th round of sanctions, the EU had already imposed sanctions on suppliers and platforms registered in Russia that enable cryptocurrency transfers and exchanges, and the ban took effect on May 24. (bits.media)

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