Penalties for disobeying have become more severe under the new regulation.
The new regulations were approved by 543 votes to 45 with abstentions.
Lawmakers in the European Union (EU) have passed new regulations to severely punish anyone who violates sanctions, including when it comes to cryptocurrency.
The European Parliament (MEPs) passed fresh sanctions against travel bans, weapons embargoes, limitations on industries, and the freezing of assets (including cryptocurrency and wallets) on Tuesday.
According to the press release:
“The new law sets consistent definitions for violations, including not freezing funds, not respecting travel bans or arms embargoes, transferring funds to persons subject to sanctions, or doing business with state-owned entities of countries under sanction.”
Stringent Punishments
Moreover, penalties for disobeying or evading fines have become more severe under the new regulation. Also, all member states are now required to implement criminal
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