EU's 21st Russia Sanctions Package Targets $120B Crypto Network, 14 Firms

The European Union has unveiled its 21st package of sanctions against Russia, with a significant focus on cryptocurrency. The package targets a crypto network reportedly valued at $120 billion, with 14 crypto companies identified for action, though their names have not yet been disclosed. Notably, the EU is for the first time considering a ban on third-country crypto service providers as part of the measures. The move signals a broadening of EU efforts to close financial loopholes that may be used to circumvent existing Russia-related restrictions.