The European Union has expanded sanctions targeting Russia by banning Russia-related cryptocurrency transactions and adding the digital rouble promoted by Russia\'s central bank and the rouble-linked stablecoin RUBx to its sanctions list. The EU made crypto a core target in its 20th sanctions package and imposed sector-wide bans on Russia-based crypto service providers and decentralised platforms. Measures also cover third-country actors and payment messaging networks tied to SPFS.

Jeremy Allaire (제레미 알레어), CEO of Circle, said it is very unlikely USDC would be used to pay tolls in Iran’s Strait of Hormuz. He said sanctioned regimes would not want to use assets that could be frozen quickly. Allaire also addressed criticism that Circle did not immediately freeze funds after the early-April Drift Protocol hack, saying freezes require instructions from law enforcement or courts. He said Circle wants a safe-harbor provision in the CLARITY Act.