EU Establishes Cryptocurrency Task Force to Run for 12 Months to Counter Russia's Sanctions Evasion

Odaily reports: The European Commission decided at the EU's tenth high-level sanctions meeting to establish a dedicated sanctions office and to set up a cryptocurrency task force within that office, responsible for addressing Russia's use of digital assets to evade sanctions. The task force is expected to operate for 12 months, with support from Ukraine and the United Kingdom.

The sanctions office will coordinate member states' enforcement of sanctions measures, covering policy design, implementation, enforcement support, and anti-circumvention efforts. The task force will target relevant networks including the A7A5 digital ruble stablecoin, which has previously seen trading volumes exceeding $100 billion. (Bitcoin.com News)