The EU Parliament passes new regulations that will restrict the provision of financial services, including crypto transactions, to sanctioned groups

According to BlockBeats news, on March 12, the European Parliament approved a series of new sanctions laws that also apply to cryptocurrencies. The new rules are intended to ensure uniform application of sanctions rules across the EU's 27 member states in response to growing concerns over Russia's invasion of Ukraine and breaches of EU sanctions against Russia. The new law provides for a consistent definition of sanctions violations, including failure to freeze funds, failure to comply with travel bans or arms embargoes, transfers of funds to sanctioned persons, or transactions with state-owned entities in sanctioned countries. It is reported that the EU's restrictive measures apply to a wide range of financial services, including the provision of "encrypted assets and wallets." (CoinDesk)