Overview

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The European Supervisory Authorities (EBA, ESMA and EIOPA – the ESAs) today warn consumers that many crypto-assets are highly risky and speculative. The ESAs set The European Union introduced its 16th sanctions package against Russia on February 24, marking three years since the Ukraine war broke out. The measures include Crypto made its way into the set of economic and political measures tightened against Russia. Until now, the rules limited Russian crypto payments to European wallets upto Article 5b(2) of Council Regulation (EU) No 833/2025 states that “It shall be prohibited to provide crypto-asset wallet, account or custody services to Russian nationals or natural persons The EU’s European Council on Thursday announced the 8th package of sanctions against Russia. The new package tightens existing prohibitions on crypto assets by According to a Q&A on Dec. 18, the European Commission has imposed a new ban on Russian nationals and residents, preventing them from owning or controlling In April 2025, the EU announced that it would restrict Russian payments to European crypto wallets to 10,000 euros and allowed such services to continue servicing

EU Announces Ban Against Russian Crypto Asset Services: What You Need to Know

The European Union has intensified its sanctions against Russia, impacting the crypto landscape. The recent measures, included in the 16th sanctions package announced on February 24th, three years after the start of the Ukraine war, significantly restrict Russian access to crypto asset services within the EU. Crypto made its way into the set of economic and political measures tightened against Russia.

What Does the Ban Entail?

The core of the ban centers around prohibiting services to Russian nationals and residents. According to a Q&A on Dec. 18, the European Commission has imposed a new ban on Russian nationals and residents, preventing them from owning or controlling crypto assets within the EU jurisdiction. Article 5b(2) of Council Regulation (EU) No 833/2025 states that “It shall be prohibited to provide crypto-asset wallet, account or custody services to Russian nationals or natural persons." This effectively blocks Russians from using EU-based platforms for crypto storage, trading, and other related activities.

Previous Restrictions and the Evolution of Sanctions

Until now, the rules limited Russian crypto payments to European wallets upto a certain amount. In April 2025, the EU announced that it would restrict Russian payments to European crypto wallets to 10,000 euros and allowed such services to continue servicing Russian clients up to this limit. The EU’s European Council on Thursday announced the 8th package of sanctions against Russia. The new package tightens existing prohibitions on crypto assets by expanding the scope of restricted services and eliminating loopholes.

Why This Matters

This ban is a significant escalation in the EU\'s efforts to exert economic pressure on Russia. By targeting crypto assets, the EU aims to prevent Russia from using digital currencies to circumvent other financial sanctions. The move reflects growing concerns about the potential for crypto to be used for illicit activities, including sanctions evasion.

Consumer Warning: Crypto Assets are High Risk

While these sanctions are aimed at Russia, it\'s crucial to remember the inherent risks associated with crypto assets. The European Supervisory Authorities (EBA, ESMA and EIOPA – the ESAs) today warn consumers that many crypto-assets are highly risky and speculative. The ESAs set a strong reminder for everyone involved in this market.

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