The EU launches a crypto task force against Russian sanctions evasion, planned to run 12 months at first, alongside a new Commission sanctions office

The European Commission is setting up a task force on the use of crypto to get around Russia sanctions. Commissioner Maria Luis Albuquerque announced it, together with a new sanctions office, after a November 5 meeting of the EU's High-Level Group on Union Restrictive Measures, the Kyiv Independent reports. The Commission's own account of that day confirms the meeting and says morning talks covered emerging threats including crypto assets used to circumvent sanctions.

The sanctions office is meant to improve coordination, give member states faster guidance and strengthen data sharing and analysis, the paper says. The crypto task force brings together national and EU experts to design measures closing loopholes. Commission spokesperson Siobhan McGarry said crypto has been used to evade EU sanctions. An EU diplomat said the task force is initially planned for 12 months and will draw on third countries including Ukraine and the UK.

The Commission says the Council adopted the 21st sanctions package on July 23. Bitcoin.com News says that package lets the EU ban entire crypto jurisdictions. The reports on the announcement describe no new ban attached to the task force.