The European Union is preparing to ban the trading and use of A7A5, a Ruble-backed stablecoin with ties to Russia’s sanctioned Promsvyazbank (PSB). Effective November 25, the EU A7A5 stablecoin ban aims to shut down a significant pathway used to...
Russian oil companies have been increasingly relying on digital assets and crypto platforms to circumvent financial sanctions, according to the European Commission.
Monetary Authority of Singapore spokesperson tells CoinDesk that entities not regulated as financial institutions are not subject to sanctions measures.
The European Union (EU) is moving to choke off A7A5, the ruble-backed token routing billions through Kyrgyzstan into European crypto markets, but available data suggests the sanctioned flow represents just 2.37% of the bloc-wide Bitcoin trading...
Reports suggest the EU is preparing to sanction A7A5, a Russian ruble-backed stablecoin that surged to become the world’s largest non-dollar pegged token.
Several banks in Russia, Belarus and Central Asia are in the EU's firing line too, for enabling crypto-related transactions, according to a Bloomberg report.
The EU is considering sanctions on A7A5, a ruble-backed stablecoin thriving despite US restrictions and mounting legal scrutiny. Its unclear origins and rapid growth challenge global regulators struggling to curb illicit crypto flows.
The post Can...
Despite sanctions and scrutiny, the ruble-backed A7A5 stablecoin surged 250% in a day to reach a $500 million market cap, overtaking all non-US dollar rivals.
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