The economic sanctions of countries against Russia continue. The European Commission approved new restrictions today, after the US pulled Russia out of the SWIFT system and banned gas and oil imports from Russia.
In the press release made by the European Commission, a definition will also be made regarding crypto assets, it was stated that they are included in the sanctions.
The European Commission has described cryptoassets as “transferable securities”.
The relevant parts of the press release are as follows:
“The European Commission agrees to impose sanctions on more targets, taking into account the situation in Ukraine and in response to Belarusian involvement in the occupation. The new measures specifically target 160 people.
Measures taken for Belarus bring similar SWIFT bans to Russia.
It clarifies that crypto-assets fall within the scope of “transferable securities” and further expands existing financial restrictions in addition to the measures already in place regarding Russian sanctions.
In the last part of the press release, it was stated that the countries under the sanctions shared their concerns that they could access the loans in different ways. To address these concerns and ensure that restrictions are appropriately and appropriately enforced, sanctions are also included in crypto assets. The statement further clarified the concept of “transferable securities” for cryptoassets.