EU revokes Belarusian "Keys" to All Crypto Service Providers Under MiCA 🔑

The European Union will bar Belarusian nationals and residents from owning, controlling or managing crypto exchanges and other crypto service providers regulated under the Markets in Crypto-Assets (MiCA) framework starting Aug. 25, under Council Decision (CFSP) 2026/1847 adopted Thursday. The amendment to the EU's Belarus sanctions package extends an existing restriction that had previously applied only to companies providing crypto wallet, account or custody services. The decision enters into force on July 24, with the expanded crypto provision taking effect Aug. 25.

Under the amendment, Belarusian nationals and residents may not own or control an EU-based entity providing "any other crypto-asset services" as defined under MiCA or hold a position on its governing body. MiCA's service categories include operating trading platforms, exchanging crypto assets, executing and transmitting client orders, placing crypto assets, providing transfers, and offering investment advice or portfolio management.

The sanctions expansion comes weeks after the close of MiCA's transition period on July 1, after which crypto companies without authorization were ordered to wind down or face enforcement actions. Ripple separately secured a full MiCA license for crypto services across Europe following the regulatory shift.

The Belarus restriction is part of a broader EU effort to target crypto platforms and financial networks accused of helping Russia evade sanctions imposed over its war in Ukraine. On Thursday, alongside its 21st sanctions package against Russia, the EU extended its transaction ban to 14 crypto-related service platforms outside the bloc and introduced a mechanism allowing it to prohibit dealings with any foreign crypto provider used by Russia to evade sanctions. The final package expands on the June 11 proposal, which had targeted 11 crypto platforms.

That proposal followed the United Kingdom's May 26 sanctions against Huobi Global S.A., the Panamanian company behind HTX, over alleged support for Russia-linked financial networks involving sanctioned entities A7 and Garantex. HTX denied wrongdoing, telling Cointelegraph that regulatory compliance "remains our absolute top priority" and that it strictly adheres to regulatory frameworks in the jurisdictions where it operates.