EU expands crypto platform sanctions powers

• The EU created a new mechanism to restrict third-country crypto platforms linked to sanctions evasion.
• The measure can prohibit transactions between EU operators and targeted crypto providers.
• The rules focus on platforms in third countries that repeatedly enable Russia to bypass EU sanctions.

The European Union created a mechanism to block transactions with crypto platforms in certain third countries.

The measure targets jurisdictions that repeatedly fail to prevent crypto services from helping Russia evade EU sanctions.

Under the new rules, the EU can prohibit transactions with crypto-asset service providers established in listed third countries.

The measure is part of the EU’s 21st sanctions package against Russia, adopted on July 23, 2026.

The package also imposed transaction bans on 14 crypto-related platforms based in countries including Georgia, Panama, the UAE and Kyrgyzstan.

The new mechanism gives the EU a broader tool to target crypto platforms that repeatedly facilitate sanctions circumvention through third-country jurisdictions.