The EU is contemplating a ban on crypto service providers from third-party countries for the first time, focusing on 14 unnamed crypto firms.
By Olivier Acuna|Edited by Jamie Crawley Jul 24, 2026, 11:58 a.m. 2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on The European Union has announced a 21st sanctions package against Russia targeting 14 crypto firms. (Guillaume Périgois/Unsplash)SummaryShow- The European Union has broadened its sanctions against Russia to include the A7 cross-border payments network and its connections to Africa, as well as the A7A5 stablecoin associated with sanctions evasion.
- This latest sanctions package extends a transaction ban to 14 crypto platforms located in countries such as Georgia, the UAE, and Panama, and introduces a mechanism that could lead to a comprehensive ban on crypto services linked to Russia.
- In conjunction with these digital asset measures, the EU is freezing the assets and banning transactions for 94 banks and key financial institutions, while also widening the transaction ban to 33 more Russian credit and financial entities.
The European Union (EU) has intensified its sanctions against Russia by including four designations related to the A7 cross-border network, which has recently established connections with Africa.
The EU is also broadening its transaction ban to encompass 14 unidentified crypto service platforms based in Georgia, Panama, the United Arab Emirates (UAE), the Marshall Islands, Kyrgyzstan, and Belarus.
According to Chainalysis, the A7 network, which facilitates the A7A5 stablecoin, has processed nearly $120 billion thus far and is specifically designed for evading sanctions imposed on Russia.
"We are targeting over a hundred banks and crypto operators, more than 40 vessels in Russia’s shadow fleet, and several oil refineries in Russia and Belarus," remarked Kaja Kallas, High Representative for Foreign Affairs and Security Policy and chair of the Foreign Affairs Council, in a statement.
Previously, the EU unveiled its sanctions package against Russia in April, which it described as the “largest package” of sanctions against the nation in two years, noting that “Russia increasingly depends on cryptocurrencies for international transactions.”
This new set of sanctions follows just three days after Russia’s State Duma approved legislation that establishes a comprehensive framework for regulating crypto, with most provisions set to take effect on September 1. This law creates a legal structure for crypto exchanges, custodians, and other digital asset providers, in addition to traders and investors.
The 21st sanctions package marks the introduction of a potential complete ban on third-country crypto services. This new mechanism would enable the EU to prohibit any transactions between EU operators and any crypto service providers utilized by Russia.
In addition to the crackdown on digital assets, the EU is also implementing asset freezes and prohibiting fund availability for 94 banks and major financial institutions, as well as extending its transaction ban to 33 additional Russian credit and financial entities.
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Crypto Flows, Share and the Selective Rotation
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Markets have shifted since June, yet Binance retains a significant share (~55% of user funds, ~24% of spot) while attracting net inflows in early July, contrasting with outflows in the broader market.
By CoinDesk ResearchJul 22, 2026Markets have shifted since June, yet Binance retains a significant share (~55% of user funds, ~24% of spot) while attracting net inflows in early July, contrasting with outflows in the broader market.
Why it matters:
Markets have shifted since June, yet Binance retains a significant share (~55% of user funds, ~24% of spot) while attracting net inflows in early July, contrasting with outflows in the broader market.
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