New EU Sanctions Prohibit Russians from Owning Crypto Companies

The European Union has introduced its twelfth package of restrictive measures against Russia, barring Russian nationals from owning or controlling cryptocurrency service providers. The move is part of the EU’s efforts to combat the circumvention of existing prohibitions on providing crypto-related services. Additionally, the EU announced that diamonds entering its territory must now be traced using blockchain technology, ensuring transparency from “the mine to the finger.” The new sanctions package aims to contribute to a just and lasting peace while acknowledging the impact of EU sanctions on the Russian economy. (Source: Bitcoin.com)