European Commission Launches Crypto Task Force on Russia Sanctions Evasion

The European Commission has launched a crypto sanctions task force to address evasion of restrictions on Russia, bringing specialists together as the EU expands its controls on digital asset services. After a Nov. 5 sanctions enforcement meeting, financial services Commissioner Maria Luís Albuquerque announced the task force. The informal group will draw on Commission and member-state expertise to examine how crypto assets are used to bypass existing measures and develop responses. “We will not allow new technologies or third-country jurisdictions to become safe havens for sanctions evasion,” Albuquerque said. The Commission is also creating a separate sanctions office to provide member states with faster guidance, data sharing, and economic and technical analysis. The task force’s launch did not impose a new transaction ban.

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