TLDR
- The EU created a crypto task force inside a new sanctions office.
- The group is expected to work for 12 months, with help from Ukraine and the UK.
- A7A5, a digital ruble stablecoin, handled over $100 billion in volume.
- The EU’s 21st package allows bans on whole crypto jurisdictions.
- The US blacklisted exchange MEXC over $16 billion in suspicious transactions.
The European Union has set up a dedicated crypto task force to stop Russia from using digital assets to avoid sanctions. The unit sits inside a new sanctions office created at the bloc’s tenth high-level meeting on restrictive measures. Officials said the goal is to make sure the rules are applied the same way in every member state.
NEW: 🇪🇺The EU has launched a crypto task force to STOP digital assets from being used to evade sanctions on Russia.
The task force is initially set to run for 12 months, drawing on experts from Ukraine and the U.K.
The EU also announced a separate sanctions office to coordinate… pic.twitter.com/0eUp3M9eVI
— Coin Bureau (@coinbureau) November 8, 2026
Maria Luís Albuquerque, the EU’s Commissioner for Financial Services and the Savings and Investments Union, described the meeting’s focus. She said it was about “turning sanctions into concrete results: closing loopholes, tackling circumvention and ensuring consistent implementation across the EU.”
What the New Sanctions Office Does
The office will help national authorities work together on sanctions. It covers policy design, implementation, enforcement support and anti-circumvention work. It will also study how Russia is changing its methods to get around the rules.
One aim is to close gaps that let Russia keep its economy running. Another is to raise the effect of the restrictions on that economy.
The crypto task force is the part of the office that deals with digital assets. EU spokesperson Siobhan McGarry said, “We know that crypto is a tool that has been used to circumvent our sanctions.” The EU has been active in this area since July, when its 20th sanctions package targeted the whole Russian crypto ecosystem.
According to the Kyiv Independent, the task force is expected to work for 12 months. Countries such as Ukraine and the UK, which have already gone after Russian crypto networks, are expected to support it.
Crypto Briefing reported that the unit is meant to trace and freeze Russia-linked crypto assets across the bloc’s financial system. It would extend sanctions designations to crypto addresses and wallets tied to sanctioned Russian parties. Blockchain analytics tools are expected to be central to that work.
The European Commission is expected to lead coordination. It would work with the European External Action Service and EU financial intelligence units. The European Banking Authority and the European Securities and Markets Authority are also expected to play a part, given their oversight of financial firms and crypto service providers.
Crypto exchanges and other service providers in the EU already follow anti-money laundering rules. These come from the Transfer of Funds Regulation and the Markets in Crypto-Assets framework. The task force is expected to work closely with those firms.
The Networks Under Pressure
One network in focus is A7, which offered a digital ruble stablecoin called A7A5. The token recorded transaction volumes of more than $100 billion. Sanctions then took down a US dollar-based exchange network linked to it, which cut its usability and sharply reduced volumes.
The EU has since added new tools. In its 21st sanctions package, it introduced the option of banning entire crypto jurisdictions. Under this approach, European exchanges would have to stop transactions with crypto services based in specific named countries.
Crypto businesses in the EU may face more compliance work as scrutiny grows. They could need to screen transactions and counterparties more closely for Russia-linked activity. Industry groups and exchanges were reported to be assessing the effects.
The United States has also tightened its oversight. The Financial Crimes Enforcement Network, part of the US Treasury, recently blacklisted the exchange MEXC. It said the platform processed at least $16 billion in suspicious transactions between May 2021 and May 2026. The transactions were linked to sanctioned entities in Iran, North Korea and Russia.
