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EU Sanctions Ban Russian Crypto Services as Russia Proposes Wallet Curbs
The EU’s 20th sanctions package banned Russian crypto services for participants under EU jurisdiction, making transactions with Russian-registered crypto providers illegal from May 24, 2026. A Russian bill on digital currency and digital rights would require cryptocurrency storage in depositories and ban personal wallets. Experts said the combination could raise blocking and labeling risks for wallets tied to officially registered Russian platforms. Experts also said Russia may respond by deepening domestic oversight and relying more on channels outside the EU perimeter.