It took several countries acting together to take down the first iteration of Garantex. Closing down its successors will require sustained coordination indefinitely – fragmented national responses won’t cut it.

The European Union has expanded its use of sanctions to target crypto-assets, crypto-service providers and other instruments linked to Russia’s war on Ukraine. The EU’s 21st sanctions package, adopted 23 July 2026, introduced for the first time a dedicated ban on crypto-asset services in third countries. The European Commission framed the intent as “a strong deterrent to countries hosting platforms that help Russia evade EU sanctions”. The package also includes the highest number of listings since the war began,…