TechFlow news: On Tuesday, the European Parliament passed new regulations to crack down on violations of sanctions, including those involving cryptocurrency. The move follows concerns over Russia's invasion of Ukraine and breaches of EU financial sanctions against Russia. The new bill aims to address inconsistent enforcement of sanctions across member states and establishes procedures for confiscating frozen assets. Additionally, the regulations harmonize definitions of sanction violations, including failure to freeze funds, non-compliance with travel bans or arms embargoes, transferring funds to sanctioned individuals, and conducting transactions with state-owned entities of sanctioned countries.
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