EU Establishes Crypto Sanctions Task Force to Crack Down on Sanctions Evasion via Crypto Assets

According to TechFlow on November 8, based on a European Commission announcement, Maria Luís Albuquerque, European Commissioner responsible for sanctions implementation, announced on November 6 the establishment of the EU Crypto Sanctions Task Force to strengthen the ability to detect and combat the evasion of EU financial sanctions through crypto assets.

Representatives from EU member states, the European Commission, and the European External Action Service had previously discussed emerging risks in financial sectors such as crypto assets, as well as cross-border cooperation and sanctions enforcement, at a high-level meeting on sanctions implementation. Albuquerque said the EU must continue to pressure Russia and close sanctions loopholes.

Source: TechFlow