TLDR:
The EU crypto task force brings together national and Commission experts. Its remit covers digital asset loopholes in sanctions enforcement. EC MiddWay press briefing of 06/11/2026
An EU diplomat described an initial 12-month term to the Kyiv Independent. The group will draw on Ukrainian and British expertise.
A7A5 moved over $100 billion in its first year, Elliptic says. Daily volumes later plunged amid sanctions and exchange disruption.
FinCEN ordered restrictions on transfers involving MEXC. Treasury alleges the exchange facilitated at least $16 billion in illicit transactions.
The European Commission has launched an EU crypto task force to tackle Russian sanctions evasion through digital assets. Financial Services Commissioner Maria Luís Albuquerque announced the initiative following a November 5 meeting in Brussels, Belgium. National sanctions officials attended the talks. The group accompanies a dedicated sanctions office intended to improve coordination, guidance, and information sharing across member states.
Officials want more consistent enforcement as Russia adapts its payment networks to existing restrictions. The initiative builds on Russia sanctions covering crypto providers and financial intermediaries. Its focus includes identifying evasion methods and designing measures to close loopholes across European jurisdictions.
EU Crypto Task Force Coordinates Enforcement Across Borders
Commission spokesperson Siobhan McGarry described the EU crypto task force as an informal body combining national and Commission expertise. Speaking on November 6, she said authorities would develop measures addressing crypto assets as a route around sanctions.
NEW: The EU has launched a crypto task force to STOP digital assets from being used to evade sanctions on Russia.
The task force is initially set to run for 12 months, drawing on experts from Ukraine and the U.K.
The EU also announced a separate sanctions office to coordinate… pic.twitter.com/0eUp3M9eVI
— Coin Bureau (@coinbureau) November 8, 2026
The sanctions office will connect policy development, implementation support, outreach and efforts to prevent circumvention. McGarry said national authorities would gain faster guidance, shared information and economic and technical analysis. The EU crypto task force forms part of that coordination effort.
The EU crypto task force initially has a planned 12-month term, an EU diplomat told the Kyiv Independent. The diplomat said it would draw on expertise from Ukraine and the United Kingdom.
Albuquerque chaired the tenth meeting of the High-Level Expert Group on Union Restrictive Measures. Participants examined financial threats, enforcement practices and the European Anti-Fraud Office’s role in investigating sanctions circumvention.
Albuquerque said uneven application could weaken the restrictions and reduce their impact on Russia. She urged authorities to share experience from enforcement cases and cooperate across borders as evasion methods evolve.
The EU crypto task force follows restrictions already adopted under successive Russia sanctions packages. On April 23, the twentieth package introduced a sectorwide ban involving Russian crypto service providers and decentralized trading platforms.
The twenty-first package, adopted July 23, created an instrument allowing restrictions on crypto services across designated third-country jurisdictions. It also added four A7 network designations and transaction bans covering 14 crypto-related platforms outside Russia. The affected platforms operate in Georgia, Panama, the United Arab Emirates, the Marshall Islands, Kyrgyzstan, and Belarus.
A7A5 Stablecoin Networks Face Wider Sanctions Pressure
The A7A5 stablecoin illustrates the private payment infrastructure behind the wider enforcement push. Issued by Kyrgyzstan-based Old Vector, the token tracks the Russian ruble and supports the A7 cross-border payments network .
Elliptic reported that the A7A5 stablecoin moved more than $100 billion during its first year. By June 2026, average daily transaction volume had fallen 96% from its July 2025 peak, the firm said. Elliptic
Its research linked the decline to sanctions, tighter Russian payment access, and disrupted exchange services. Elliptic said restrictions on conversion venues can constrain a token even while its blockchain contracts remain operational. Users could hold ruble-linked value before briefly converting it into dollar stablecoins for international transfers, reducing prolonged exposure to freezes.
For the EU crypto task force , such networks provide context for examining how sanctioned funds reach mainstream financial channels. Elliptic said exchanges identified indirect exposure when customers deposited assets previously exchanged through the A7A5 ecosystem. That exposure could remain visible after several intermediary transfers.
Separately, American authorities announced action against MEXC Global on November 6. Treasury alleged the exchange facilitated at least $16 billion tied to sanctions evasion, cybercrime, and other illicit activity.
Treasury attributed the activity to May 2021 through May 2026, including nearly $1.5 billion linked to Russian sanctions evasion. It also cited almost $200 million connected to the A7A5 stablecoin.
FinCEN issued an order prohibiting United States financial institutions from processing transfers involving MEXC Global. The restriction takes effect 30 days after publication in the Federal Register.
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