Posted 3/12/2024, 1:24:00 PM
EU Approves New Rules to Strengthen Enforcement of Russia Sanctions, Including on Crypto Assets
- European Parliament approved new rules to harmonize sanctions enforcement across 27 EU member states
- Aims to crack down on sanctions violations, including through crypto assets
- Prompted by Russia's invasion of Ukraine and concerns about violations of Russia sanctions
- Sets consistent definitions for violations - not freezing funds, respecting bans, transferring funds to sanctioned persons
- New rules apply to crypto service providers; sanctions can involve freezing crypto assets
