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
Novo Nordisk (NVO.US) unveils $23 billion pipeline blueprint, but the market isn't buying it! Investors ask, "How to turn the tide against adversity?"
After being surpassed by Eli Lilly in the obesity market, Novo Nordisk failed to present a concrete turnaround plan to CEO Mike Doustdal, disappointing investors. The company has pledged to launch more than five blockbuster drugs in the coming years and achieve over $23 billion in new sales, but the press conference lacked details on how to drive growth.
STONK hits new highs after erasing 27% crash
25 Days, Four Launches in Sight! Rocket Lab (RKLB.US) Accelerates Rocket Launches to Advance Its Ambitious "Space AI Infrastructure" Goals
After another successful mission, Rocket Lab's 97th Electron rocket is now positioned at the launch pad. This flight will be Rocket Lab's fourth launch in 25 days and its 18th launch in 2026.
Cardano’s x402 integration lets AI agents pay for APIs directly in ADA
Crypto prices
More
