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EU Bans Providing High-Value Crypto Services to Russia
The move follows warnings that crypto is being used to circumvent sanctions imposed in response to the invasion of Ukraine.
Updated May 11, 2023, 5:07 p.m. Published Apr 8, 2022, 9:36 a.m.
European Union member states agreed Friday to ban the provision of high-value crypto-asset services to Russia as part of a fifth package of sanctions imposed in response to the Ukraine war.
The measure will "contribute to closing potential loopholes" in existing restrictions, the European Commission said, and were announced alongside bans on four Russian banks, coal imports and offering advice on wealth-concealing trusts to oligarchs.
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According to a statement made by the Council of the EU, which represents national governments within the bloc, the measures extend a prohibition on deposits to crypto wallets.
European Central Bank President Christine Lagarde recently warned crypto was being used to evade sanctions, despite little evidence.
In an FAQ posted April 4, the commission said crypto was already included in existing asset freezes, and on March 9 extended the definition of "transferable securities" to include virtual assets.
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Poland’s lower house approves crypto law again, sends vetoed bill back to Senate
The Sejm passed the same version of the Crypto-Asset Market Act previously rejected by President Nawrocki, escalating political tensions.
What to know:
- Poland's lower house of parliament passed a crypto regulation bill previously vetoed by President Nawrocki, sending it to the Senate for further debate.
- The bill aligns with the EU's MiCA regulation, but is criticized for granting excessive powers to the Polish Financial Supervision Authority.
- Prime Minister Tusk's government reintroduced the bill unchanged, emphasizing its importance for national crypto market oversight.
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