Original sourceTech Times
Summary
Through the 21st Russia sanctions package, the EU amended Annex LVII of Regulation 833/2014, gaining its first authority to ban third-country crypto service providers from transacting with the EU. The new rules allow the EU to directly block cross-border crypto transactions linked to designated nat…
Key points
- Understanding the EU's latest crypto regulatory tool directly impacts cross-border exchanges and payment service providers
- The EU's country-level ban framework sets a precedent that could reshape global crypto trading geography and compliance architecture
- Exchanges and payment firms operating in the EU must immediately screen counterparties to prevent business with countries designated in Annex LVII
Editorial note
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