<p>In the hushed corridors of the European Parliament, the air is laden with mystery: stringent laws on sanctions against crypto service providers have been put to the vote. A direct inspiration from the American model of repression? Crypto enthusiasts are holding their breath.</p>
<h2 id="h-the-eu-tightens-sanctions-cryptos-in-the-crosshairs">The EU tightens sanctions: Cryptos in the crosshairs</h2>
<p>Across the Atlantic, <strong>sanctions against cryptocurrency exchange platforms</strong> are sending shivers down the spines of financial magnates. Binance, a giant in the industry, had to pay an <strong><a href="https://www.cointribune.com/en/binance-in-shock-us-justice-demands-heavy-4-billion-fine/" target="_blank" rel="noopener noreferrer nofollow">astronomical fine</a> exceeding 4 billion dollars</strong>. Meanwhile, the US government is flexing its power by seizing <strong>illicit bitcoins from the Darkweb</strong>, amassing a fortune of nearly 200,000 BTC in its vaults.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div> 
<div class="tradingview-widget-container tradingview--mini-chart">
 <div class="tradingview-widget-container__widget"></div>
 <div class="tradingview--mini-chart--dark">
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:BTCUSD","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"dark"}</script>
 </div>
 <div class="tradingview--mini-chart--light">
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:BTCUSD","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"light"}</script>
 </div>
 <div class="tradingview-widget-copyright"><a href="https://fr.tradingview.com/symbols/BTCUSD/?exchange=BINANCE" rel="noopener noreferrer nofollow" target="_blank"><span class="text-primary-color">BTCUSD chart</span></a> by TradingView
 </div>
</div> 
<p><a href="https://www.coindesk.com/policy/2024/03/12/eu-parliament-approves-new-sanctions-laws-that-also-apply-to-crypto/?utm_medium=referral&amp;utm_source=rss&amp;utm_campaign=headlines" target="_blank" rel="noopener noreferrer nofollow">CoinDesk</a> reveals a new twist: <strong>Europe</strong>, torn between tradition and modernity, is seriously considering <strong>cracking down on uncooperative crypto players</strong>. Regulatory thunder that rumbles at the gates of blockchain giants.</p>
<p>Last Tuesday, the <strong>European Parliament</strong> greenlit <strong>new rules aimed at bolstering sanctions</strong> across the 27 member states. Now, these rules will also extend to cryptocurrency service providers, who could see their assets, including cryptos, frozen in the case of non-compliance.</p>
<p>This vote marks a crucial step in the EU’s efforts to <strong>harmonize the enforcement of sanctions throughout the Union</strong>. Adopted by an overwhelming majority of <strong>543 votes in favor, 45 against, and 27 abstentions</strong>, these rules were motivated by recent <strong>tensions with Russia</strong>, particularly in response to the invasion of Ukraine.</p>
<p>Sophie in ‘t Veld, Dutch representative, emphasized the necessity of this legislation, asserting that it <strong>closes the gaps in divergent national approaches</strong> and allows for the confiscation of frozen assets.</p>
<p>“<em>We need this legislation because divergent national approaches have created weaknesses and loopholes, and it will allow for the confiscation of frozen assets</em>,” she clarified.</p>
<p>A decision applauded by proponents of European cooperation in security and combating financial sanction violations.</p>
<h2 id="an-ambiguous-area-of-application">An ambiguous area of application</h2>
<p>EU sanction decisions may be <strong>adopted uniformly</strong>, but their implementation varies by member state. The press release highlights that <strong>each country has the power to define what constitutes a sanctions violation and the corresponding measures</strong>.</p>
<p>According to the release, the EU’s financial restrictions also extend to services related to cryptos, including the provision of crypto-assets (considered as securities) and wallets. Potential sanctions include asset freezes, including cryptocurrencies.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="2">
 </div>
</div>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://accounts.binance.com/en/register?ref=35547494" target="_blank" rel="noopener noreferrer nofollow">Acheter ses premières cryptos avec la plateforme Binance</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">Ce lien utilise un programme d’affiliation</a>
</div>
<p>The newly adopted rules clearly define <strong>possible violations</strong>, such as failing to freeze funds, travel bans, arms embargoes, and transactions with entities from <a href="https://www.cointribune.com/en/crypto-the-eu-imposes-new-sanctions-against-russia/" target="_blank" rel="noopener noreferrer nofollow">sanctioned states like Russia</a>.</p>
<p>While the legislation still needs to be approved by the Council, it is clear that the impending restrictive measures on sanctions will be game-changers once implemented.</p>

Cryptos under high surveillance: The EU adopts strict compliance measures.

目錄

Cointribune EN

在 2024年3月13日發表的其他文章

EU publishes final draft rules on complaints handling for stablecoin issuers

FLOKI’s Rally Hints at Next DOGE in Market Cycle

Binance Announces Removal Of BNB & TUSD Spot Trading Pairs, What’s Happening?

Peng Price Prediction: New Solana Token PENG Pumps 65% As This Other New AI Meme Coin ICO Goes Pa...

What's Going On With Block Stock?

NFT Sales Jump 16% Today – Is The NFT Bull Market Now About To Start?

訂閱免費電子報，每天收取加密貨幣最新動態！