October 23, 2025 | 14:40The European Union has escalated its financial warfare against Moscow by directly targeting cryptocurrency platforms for the first time since Russia’s invasion of Ukraine began. The landmark 19th sanctions package specifically prohibits Russia-based crypto payment providers and related software distribution across the bloc, responding to evidence that Russian oil companies have increasingly relied on digital assets to circumvent financial restrictions. This represents a significant evolution in the EU’s sanction strategy as it confronts Moscow’s growing sophistication in financial evasion tactics.
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0 in Finance and 1 in Crypto last week
ESMA Seeks Direct Crypto Oversight Under MiCA Framework
The European Securities and Markets Authority is moving to take direct control of cryptocurrency oversight across the EU, marking a significant centralization of regulatory power. This fundamental shift aims to address fragmented supervision and align with the newly implemented Markets in Crypto-Assets framework, representing the most substantial consolidation of financial authority since MiCA’s introduction.
read moreEU Targets Russian Crypto in New Sanctions Package
The European Union has unveiled groundbreaking sanctions directly targeting cryptocurrency transactions with Russian residents. This marks the first time digital asset platforms have been explicitly included in EU financial restrictions against Russia. The measures form part of the bloc’s 19th sanctions package announced on Friday, representing a significant escalation in financial pressure against Moscow.
read moreUnichem Labs Shares Drop 5% on EU Fine Demand Notice
Shares of Indian pharmaceutical company Unichem Laboratories Ltd plunged nearly 5% on Friday after receiving a demand notice from the European Commission for a €19.49 million fine related to competition law violations in the Perindopril medication case dating back to 2005. The penalty, comprising €13.97 million in principal and €5.52 million in interest, represents a significant financial blow to the Mumbai-based drugmaker as it reviews legal options while markets react to the unexpected liability.
read moreFrance Defies EU Fiscal Rules, Barclays Economist Warns
Silvia Ardagna, Head of European Economics Research at Barclays, stated that France is likely to disregard the European Commission’s fiscal consolidation guidelines despite ECB President Christine Lagarde’s insistence on compliance. Ardagna highlighted a conflict between political stability and fiscal discipline, predicting the French government will weaken former Prime Minister’s proposals to avoid instability. The remarks, made on Bloomberg TV’s The Opening Trade on September 11, underscore growing tensions between EU fiscal expectations and national political realities in France.
read moreEU Proposes €2 Trillion Budget for 2028-2034
The European Commission, led by Roxana Minzatu, has proposed a €2 trillion budget for the 2028-2034 cycle, a sharp rise from the €1.2 trillion allocated in 2021-2027. The budget aims to address pressing issues such as global economic competition and heightened defense needs. Minzatu discussed the proposal in an interview with Bloomberg Television, emphasizing the EU’s commitment to strengthening its economic and security frameworks amid evolving challenges.
read moreFigma Files for IPO with $70M in Bitcoin Holdings
Figma, a San Francisco-based design platform, has filed for an IPO under the ticker ‘FIG’ and disclosed $70M in Bitcoin ETF holdings alongside $30M in USDC for future crypto purchases. Founded in 2012, Figma has grown rapidly, securing $749M in revenue by 2024 and raising over $332M in funding. The company’s valuation soared to $10B before a high-profile but ultimately blocked $20B acquisition attempt by Adobe in 2022 due to regulatory concerns. Figma now joins a growing list of corporations holding Bitcoin, with public and private companies collectively owning 5.7% of the circulating supply. The IPO is highly anticipated, marking a new chapter for the design tool favored by major firms like Netflix and Airbnb.
read moreUS Equity Futures Steady Amid Tariff Deadline, Tax Bill Resistance
US equity futures showed little movement in pre-market trading as investors balanced concerns over an impending tariff deadline with political resistance to President Trump’s tax bill. Meanwhile, major Wall Street lenders announced dividend increases after the Federal Reserve eased stress test requirements. Market analysts noted a diversification trend among investors seeking alternatives to US Treasuries, while trade tensions between the US and EU persist over digital service taxes. The Bloomberg Brief provides key insights into these market-moving developments.
read moreEU Risks Falling Behind in Crypto Due to Regulatory Delays
Catriona Kellas, International Legal Lead of Digital Projects at Franklin Templeton, highlighted the EU’s regulatory stagnation in crypto during the DigiAssets 2025 Conference. She expressed concerns that the EU’s slow progress on updates to MiCA and discussions around MiCA 2 could leave the region behind more agile markets like the U.S. and Asia. Kellas noted a shift in tone from the European Commission, with officials now emphasizing ‘competition,’ signaling awareness of the need for faster regulatory adaptation. The EU’s DLT pilot regime, a regulatory sandbox for crypto firms, is receiving updates but may not be enough. Meanwhile, crypto exchanges like Coinbase and Gemini are securing EU licenses, leveraging the ‘passporting’ system, though regulators remain cautious. Kellas stressed that governments are pushing regulators to adopt more progressive frameworks as crypto adoption grows globally.
read moreSantander Explores Fiat-Backed Stablecoin & Crypto Expansion
Banco Santander is reportedly developing a fiat-backed stablecoin, potentially pegged to the US dollar and euro, while expanding crypto offerings for retail clients. The initiative, still in early stages, follows regulatory shifts under MiCA and reflects a growing acceptance of digital assets in traditional finance. However, the ECB has raised concerns about dollar-denominated stablecoins threatening the euro’s dominance, while the European Commission defends MiCA’s adequacy. Santander’s move could influence how other banks navigate crypto regulations.
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