EU prepares 20th sanctions package to halt Russia's use of crypto and A7A5 stablecoin

The European Union is preparing a 20th sanctions package that aims to prohibit all cryptocurrency transactions with Russia and shut down Russia-linked crypto channels. The plan includes restricting access to Russian crypto platforms such as A7 and its ruble-pegged stablecoin A7A5, while also targeting additional regional banks. Some analysts argue that fully enforcing such a broad ban will be difficult due to decentralized liquidity and the ability to swap tokens through onchain pools.