Starting August 25, Belarusians can't own or manage crypto-asset service providers regulated by the EU's Markets in Crypto-Assets (MiCA) framework.
This new ban expands earlier sanctions, which targeted only crypto wallets and custody services, to all crypto asset services covered by MiCA.
The EU Council decision, effective from July 24, aims to prevent Belarusian nationals and residents from holding control or governance roles in EU-licensed crypto firms.
Under MiCA, these services range from operating trading platforms and exchanging crypto assets to managing portfolios and offering investment advice.
The timing follows MiCA’s transition period ending on July 1, when unauthorized crypto operators had to cease activities or face penalties.
This move is part of the EU’s broader sanctions against Belarus tied to Russia’s war in Ukraine, focusing on blocking crypto channels that might bypass sanctions.
On the same day, the EU also rolled out its 21st sanction package against Russia, extending bans on 14 crypto platforms outside the EU and enabling restrictions on foreign crypto providers suspected of helping Russia evade sanctions.
