Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
EU Accuses Kyrgyz Banks of Engaging in Crypto Operations that Undermine Sanctions, 2026/02/10 16:20:06
The European Union plans to include two banks from Kyrgyzstan in its twentieth package of anti-Russian sanctions. EU officials accuse Keremet Bank and Kapital Bank of assisting Russian clients in circumventing restrictions through cryptocurrency transactions.
Should the decision be finalized, these Kyrgyz banks will be prohibited from conducting any transactions with individuals and entities from EU member states. Additionally, similar restrictive measures may be extended to several banks in Tajikistan and Laos, as reported by sources from Reuters. The names of these banks have not been disclosed by the informants.
Related Posts
In early 2025, the United States added Keremet Bank to its sanctions list. In August, the United Kingdom imposed restrictions on Kapital Bank, as well as on the Kyrgyzstan-based cryptocurrency exchange Grinex and the company Old Vector—both linked to the ruble stablecoin A7A5, according to British officials. A week prior to the UK sanctions, the US enacted similar measures against Grinex and Old Vector. Under the 19th package of anti-Russian measures, EU authorities prohibited any transactions involving A7A5 within the territories of member states.
In 2025, the volume of cryptocurrency transactions associated with evading international sanctions surged by 400%. The majority of these operations involved the stablecoin A7A5. Since its inception, over $72 billion has flowed through it, with wallets linked to A7A5 processing an additional $39 billion, as reported by analysts at TRM Labs. They noted that the bulk of the transfers originated from companies in China, Southeast Asia, and South Africa, with the highest amounts directed to China and Hong Kong. TRM Labs representatives identified exchanges Garantex and Grinex as the primary platforms for transactions involving the ruble stablecoin.
The 20th sanctions package from the EU includes an expansion of restrictions targeting certain unnamed regional Russian banks and cryptocurrency platforms. The European Commission stated that, among other things, the ban will affect the digital ruble issued by the Bank of Russia.
