EU Sanctions A7 Crypto Network Tied to Russian Election Interference

Key Points

1. The EU sanctioned pro-Kremlin influencer Simeon Boikov and Russian-linked company A7 OOO for efforts to influence elections and disseminate propaganda.

2. A7 OOO issued the ruble-backed stablecoin A7A5, which facilitated $9.3 billion in transactions, primarily used by a small number of entities, including sanctioned Russian exchange Garantex.

3. The U.S. Secret Service seized Garantex's domain, with TRM Labs revealing premeditated efforts to move funds into A7A5 to evade sanctions.

4. The U.S. Treasury sanctioned Russian bulletproof hosting provider Aeza Group for enabling cybercriminal activities, including ransomware attacks and darknet drug markets.

5. The House rejected a procedural rule to advance crypto-related bills, including the GENIUS Act and CLARITY Act, amid debates on crypto market structure and regulation.