EU Adopts Regulations Targeting Sanctions Violations, Engulfs Crypto

Following 543 votes in favor, 45 against, and 27 abstentions noted, the European Parliament recently forged ahead with a set of new rules, cracking down on violations and circumventions of EU sanctions. This move further tightened the EU’s stance on digital assets such as cryptocurrencies, underscoring the nationwide need for a more robust approach that introduces a standard definition for minimum penalties for violations.