The EU imposes sanctions on the stablecoin A7A5 pegged to the Russian ruble.
PANews, October 23—According to INTERFAX.RU, the European Union has imposed sanctions on the ruble-pegged stablecoin A7A5. The 19th round of sanctions against Russia, announced on Thursday, stipulates that transactions with A7A5 will be prohibited starting November 25 this year. The A7A5 ruble stablecoin is issued by A7 company, with its investor being Promsvyazbank (PSB). The stablecoin is set to launch in Kyrgyzstan in February 2025. It is backed by deposits at Promsvyazbank and pegged to the Russian ruble at a 1:1 ratio. In August, the United States had already imposed sanctions on A7 company and several related companies.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Billions in Revenue, Rising XRP Utility: 5 Altcoins to Watch as U.S. Crypto Plans Take Shape
Justin Sun reveals 80%–90% Ethereum sale at $3,600–$4,000, pivots to Nvidia and Nasdaq-100
Charles Schwab Opens Bitcoin and Ether Trading to All Eligible Clients
Hedge fund returns have "evaporated by half" this year, with losses especially severe in recent weeks. Goldman Sachs partner: Wait for "junk-rated" assets to stop falling.
The underlying junk-rated assets in the AI capital structure are still under pressure. Until the decline in junk-rated AI assets represented by CoreWeave ceases, any rebound in AI stocks is merely a position adjustment rather than a fundamental revaluation.
Crypto prices
More
