- Russians and individuals permanently residing in the Russian Federation will be prohibited from owning, controlling, or managing any licensed crypto companies in the EU.
- The restrictions will apply to exchanges, trading platforms, currency exchangers, custody services, crypto asset management companies, and other MiCA-covered services.
- The ban applies not only to direct ownership but also to indirect ownership through other companies.
- An exception is provided for Russians holding EU, EEA, or Swiss citizenship or residence permits.
- The EU will also be able to prohibit European companies from working with crypto platforms from countries that are recognized as being used to circumvent sanctions.
- By August 25, Russian owners and top executives of such companies must either exit their equity stakes, step down from management positions, or confirm their European status.
Continue reading this article on source: rbc.ru