EU Expands Comprehensive Ban on Ownership of Cryptocurrency Service Companies by Belarusian Nationals

The European Union (EU) has banned Belarusian nationals and residents from owning, controlling, or participating in the management of cryptocurrency service companies regulated under the Markets in Crypto-Assets (MiCA) regulation, effective August 25. This decision, part of EU Council Regulation 2026/1847, expands sanctions against Belarus due to its alleged involvement in Russia-Ukraine war activities. The revised restrictions now apply to all MiCA-regulated cryptocurrency services, including transaction platforms, exchanges, order execution, asset allocation, transfers, investment advisory, and portfolio management. Non-compliant firms may face dissolution or enforcement actions. The EU also expanded transaction bans on 14 offshore crypto platforms as part of its 21st round of sanctions against Russia.