EU tightens Russia sanctions, bans dealings with 14 crypto platforms

The European Union has barred dealings with 14 cryptocurrency-related service platforms based in Georgia, Panama, the United Arab Emirates, the Marshall Islands, Kyrgyzstan and Belarus, including the cross-border payments network A7, as it steps up efforts to block Russia’s sanctions evasion, CoinDesk reported. The names of the platforms were not disclosed. A7 Network, the issuer of the A7A5 stablecoin, has processed about $120 billion in transactions so far and was designed to support Russia’s evasion of international sanctions, according to the report.