EU expands Belarus crypto ban to all MiCA services from Aug. 25

The sanctions expansion comes weeks after MiCA's transition period ended July 1. Crypto companies without authorization were ordered to wind down or face enforcement actions.

The Belarus restriction follows a broader EU push to target crypto platforms and financial networks accused of helping Russia evade sanctions imposed over the war in Ukraine. On Thursday, as part of its 21st sanctions package against Russia, the EU extended its transaction ban to 14 crypto-related service platforms outside the bloc and introduced a mechanism allowing it to prohibit dealings with any foreign crypto provider used by Russia to evade sanctions. The final package expands on a June 11 proposal that targeted 11 crypto platforms.

That proposal followed the United Kingdom's May 26 sanctions against Huobi Global S.A., the Panamanian company behind HTX, over alleged support for Russia-linked financial networks involving sanctioned entities A7 and Garantex.

HTX denied wrongdoing in a statement at the time, saying regulatory compliance "remains our absolute top priority" and that it strictly adheres to regulatory frameworks in the jurisdictions where it operates.