EU Targets Organizations Using Crypto to Evade Sanctions and Spread Disinformation

Key Points

1. The EU sanctioned six organizations and nine individuals, including Simeon Boikov ('Aussie Cossack') and A7 OOO, for using crypto to evade regulations.

2. Simeon Boikov was accused of spreading disinformation about U.S. elections and using high-risk, no-KYC Russian exchanges.

3. A7 OOO, led by Illan Shor, was established to facilitate cross-border payments after Russia's invasion of Ukraine and was linked to a $1B bank fraud scandal in Moldova.

4. The EU's Market in Crypto Assets (MiCA) legislation aims to regulate digital assets, particularly stablecoins, to curb illicit cryptocurrency use.

5. The sanctions highlight the EU's efforts to combat crypto-related financial crimes and disinformation campaigns.