European Parliament Approves New Crypto Sanctions Rules to Crack Down on Violations

The European Parliament has approved new sanctions rules to standardize enforcement across its 27 member states. These rules apply to crypto service providers and can result in freezing assets, including crypto. The new rules were prompted by concerns that EU financial sanctions on Russia were being violated. The legislation must still be approved by the Council before becoming law. The EU's restrictive measures apply to a wide range of financial services, including providing "crypto-assets and wallets."