PANews April 27 news, according to CoinDesk reports, the EU has announced the largest sanctions scheme against Russia in two years, implementing a comprehensive industry ban on cryptocurrency service providers and platforms based in Russia, and prohibiting the Russian central bank's digital ruble, RUBx stablecoins, and related support. The sanctions also target 20 Russian banks and four third-country financial institutions related to the Russian SPFS settlement network, and include the Kyrgyzstan exchange TengriCoin (Meer.kg) on the sanctions list. Blockchain analysis company Chainalysis stated that the sanctioned ecosystem's stablecoin A7A5 has processed funds totaling approximately $119.7 billion, viewed as a settlement channel for sanctioned Russian enterprises to access the global financial system. EU residents are now prohibited from trading with Russian and Belarusian CASPs and DeFi platforms, and are not allowed to provide crypto services under MiCA regulation to individuals and entities in Belarus.

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