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EU Cracks Down on Russia's Garantex for Sanctions Evasion & Illicit Activity - But Will It Work?
Austin Hodge
February 26, 2025 • Read Time: 13 minutes
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In the latest chapter of cryptocurrency's ongoing geo-political drama, the European Union has sharpened its sanction efforts against Russia by targeting the Moscow-based crypto exchange Garantex. Accused of being a major cog in the wheel of illicit financial activity, Garantex stands in an uncomfortable spotlight for allegedly facilitating transactions tied to cybercrime and sanctions evasion. What does this mean for the crypto world at large, and can these new measures truly break down the infamous network Garantex reportedly maintains?
Let's dive in!
EU sanctions Moscow-based Garantex, linking it to Russian banks and illicit financial activity, marking the 16th sanctions package against Russia. — Read More
Bybit targets Lazarus Group with new site, offering bounties for freezing stolen crypto funds. — Read More
Dekabank launches crypto services for institutional investors in Germany. — Read More
Singapore retail chain Metro to support stablecoin payments in stores and online, collaborating with DTCPAY. — Read More
Senator Cynthia Lummis announces a pivotal Bitcoin event coinciding with the Senate's first crypto policy hearing, raising expectations of significant legislative actions. — Read More
Kaspersky identifies GitVenom, fake GitHub repositories targeting crypto and credentials. — Read More
PayPal will expand its PYUSD stablecoin integration to more products, enhancing merchant payment capabilities, Bloomberg reports. — Read More
Alchemy announces a $5M 'Everyone Onchain Fund' to support developers and enhance Ethereum's ecosystem. — Read More
Immunefi unveils Magnus, an AI-driven platform uniting security tools to enhance blockchain protection, backed by partnerships with major industry players. — Read More
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