Europe’s War on Crypto Is Really About Capital Controls
Posted Jun 10, 2026 by Martin Armstrong |
The European Union has announced what may prove to be one of the most significant developments in the battle over financial freedom. European Commission President Ursula von der Leyen declared that the EU would introduce, for the first time, a “full third-country ban” on certain crypto-asset services as part of a new sanctions package against Russia. The official explanation is that Brussels wants to prevent Russia from using cryptocurrency-related services to evade sanctions. Most people will read that headline and move on. They should not.
What was actually said is far more important than many realize. The European Union is asserting the authority to prohibit crypto-asset service relationships involving entities outside its borders if Brussels determines those relationships undermine its sanctions regime. Today the target is Russia. Tomorrow it
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