EU Mulls Sanctions Against Russia-Linked Stablecoin A7A5
A7 is a cross-border payments company owned by fugitive banker Ilan Shor.
Photographer: Irina Buzhor/Sipa/AP PhotoThe European Union has proposed imposing sanctions on A7A5, a ruble-backed stablecoin tied to sanctioned Russian actors, according to documents seen by Bloomberg News.
The restrictions will prohibit any engagement, directly or indirectly, by EU-based entities in transactions involving the token. The bloc is also set to target several banks in Russia, Belarus and Central Asia for enabling crypto-related transactions, the documents indicate.