The EU’s 21st round of sanctions against Russia extends transaction bans to 14 third-country crypto platforms.

Foresight News reports that on July 23, the Council of the European Union adopted the 21st round of sanctions against Russia. In the cryptocurrency sector, this round extends transaction bans to 14 crypto service platforms registered in Georgia, Panama, the UAE, the Marshall Islands, Kyrgyzstan, and Belarus, and adds 4 entities associated with the A7 cross-border payment network. For the first time, the EU is introducing a nationwide crypto service ban mechanism targeting third countries, allowing the EU to prohibit local operators from transacting with any third-country crypto service providers used by Russia to circumvent sanctions. In finance, this round freezes the assets of 94 Russian banks and major financial institutions, and further extends transaction bans to an additional 33 Russian credit and financial institutions. The latest sanctions list includes a total of 218 items (48 individuals and 170 entities), making it the EU's largest expansion in four years.