Svmuu News: The European Union has further tightened restrictions on crypto assets targeting Belarus, prohibiting Belarusian citizens and residents from owning, controlling, or managing crypto service providers regulated under the Market in Crypto-Assets Regulation (MiCA).
According to Council Decision (CFSP) 2026/1847, adopted by the Council of the European Union on July 24, this measure expands the EU’s sanctions framework targeting Belarus’s involvement in the Russia-Ukraine conflict. The new regulations will officially take effect on July 24, with the expanded restrictions on the crypto industry set to take effect on August 25.
As defined by MiCA, the scope of affected services includes operating crypto trading platforms, crypto asset exchanges, executing and transmitting client orders, crypto asset issuance services, asset transfer services, investment advice, and portfolio management. These restrictions come as the MiCA transition period ended on July 1. The EU had previously required unauthorized crypto firms to cease related operations or face regulatory enforcement.
The EU stated that this expansion of restrictions is part of its efforts to combat the use of crypto platforms to circumvent sanctions against Russia. Previously, in its 21st round of sanctions against Russia, the EU had expanded the trading ban to 14 non-EU crypto-related service platforms and established a mechanism allowing for future bans on transactions with any foreign crypto service providers deemed to be helping Russia circumvent sanctions.
Market observers note that with the full implementation of the MiCA regulatory framework, the EU is further strengthening its regulatory control over the crypto industry through licensing systems and sanctions mechanisms. (Cointelegraph)