The EU is considering new measures to ensure digital assets are not used to dodge sanctions against Russia as the bloc toughens its enforcement of the financial penalties imposed on Moscow in the past week.
EU finance ministers and other officials discussed on Wednesday the risk that cryptocurrencies could be used to circumvent sanctions, officials said.
Among those who pushed in a video conference call for action was Christine Lagarde, the European Central Bank president. Bruno Le Maire, the French finance minister, said after the meeting that steps were under consideration to “further increase the effectiveness” of the sanctions and avoid any circumvention of the measures — including through cryptocurrencies. The commission is now expected to consider proposals to deal with the issue.