EU Mulls Sanctions on Russia’s Largest Stablecoin, A7A5

The European Union (EU) is considering sanctions against A7A5, a Russian ruble-backed stablecoin that has become the world’s largest non-US-dollar stablecoin. The proposal would ban EU-based organizations and individuals from engaging directly with the token or indirectly through third parties. This move aligns with the EU’s efforts to limit financial instruments used by Russia to circumvent Western sanctions.