The European Commission proposes new sanctions against Russia in the areas of finance and cryptocurrencies: for the first time, a complete ban on crypto-asset services in third countries is being proposed, and new banks have been added to the list.
European Commission President Ursula von der Leyen announced this on Tuesday in Brussels while unveiling the 21st package of sanctions against Russia.
“My second point concerns financial and cryptocurrency restrictions. We are expanding our banking transactions to include 31 Russian banks and up to 20 crypto firms or platforms and oil traders in third countries that have served Russian organizations and individuals subject to sanctions or circumvented our measures,” she said.
It is also proposed to impose a complete ban on crypto-asset services in third countries. “This will be a powerful deterrent for hosting platforms in countries that help Russia circumvent our sanctions,” von der Leyen emphasized.
BANKS, CRYPTOCURRENCY, EUROPEAN COMMISSION, RUSSIA, SANCTIONS
According to Fixygen, Coinbase Global, the operator of the largest cryptocurrency exchange in the U.S., reported a net loss in the first quarter of 2026 due to a decline in the value of its digital currency assets.
According to the company’s press release, the net loss for January–March was $394.1 million, or $1.49 per share, compared to a profit of $65.6 million, or $0.24 per share, for the same period the previous year.
The figure includes a $482.4 million decline in the value of the company’s cryptocurrency holdings.
Coinbase’s quarterly revenue fell to $1.41 billion from $2.03 billion a year earlier. Analysts surveyed by FactSet had forecast revenue of $1.49 billion on average.
The company’s revenue from transaction fees in the past quarter was $755.8 million, compared to a forecast of $805.2 million. Revenue from subscription sales was $583.5 million, instead of the expected $619.3 million.
Coinbase shares fell 4.6% in after-hours trading on Thursday. Since the start of this year, the company’s market capitalization has dropped by nearly 15%, to $52.28 billion.
According to Fixygen, the U.S. bank Morgan Stanley has launched a pilot cryptocurrency trading service on its E*Trade platform, Bloomberg reports.
Full access to the service will be available later this year. The E*Trade platform has 8.6 million customers.
The new service features lower fees—0.5% of the dollar value of the transaction. The largest cryptocurrency exchange in the U.S., Coinbase, charges 0.6%, the popular platform Robinhood charges 0.95%, and Charles Schwab charges 0.75%.
Morgan Stanley is developing cryptocurrency products across various business lines, aiming to integrate traditional finance with decentralized finance.
“This is much more than just trading cryptocurrency with lower fees,” Jed Finn, head of the wealth management segment for high-net-worth individuals, told Bloomberg. “In a sense, this strategy eliminates the middlemen who eliminate middlemen.”
Until recently, bank clients had to turn to other players for cryptocurrency products.
Morgan Stanley is also working to enable clients to convert crypto assets into exchange-traded fund shares without having to sell them first, according to Bloomberg sources. Additionally, in the second half of the year, the bank plans to introduce the ability to trade tokenized stocks for institutional clients.
In April, Morgan Stanley became the first Wall Street bank to launch a Bitcoin ETF, and in February, it applied for a license to provide custody services for digital assets.
According to Fixygen, the cryptocurrency market maintained a moderately positive sentiment last week, although growth slowed toward the end of the period. Bitcoin traded around $77,800 on Friday, while Ethereum traded around $2,310, according to market data as of April 24.
The market saw its strongest movement in the middle of the week. According to Reuters, on April 22, Bitcoin rose to $78,866, gaining 4.13% for the day, while Ethereum climbed to $2,398, up 3.48% on the day. This occurred amid an improvement in global risk appetite and a general rise in stock markets.
However, momentum weakened in the second half of the week. On April 23, Reuters noted a pullback in cryptocurrencies amid rising oil prices, tensions in the Middle East, and more cautious investor sentiment: at that time, Bitcoin fell to $77,682, and Ethereum to $2,316. By April 24, the market had stabilized, but without a new strong upward surge.
Institutional money remained the key support factor for Bitcoin this week. According to industry publications, the inflow of funds into spot Bitcoin ETFs continued, and Strategy purchased an additional 34,164 BTC for approximately $2.54 billion, marking its largest purchase since late 2024. This reinforced the perception of Bitcoin as an asset that continues to be actively bought up by major players, even following the March-April recovery.
Another positive signal for the sector was the continued push by traditional financial firms toward the crypto market. Reuters previously reported that Charles Schwab plans to launch spot cryptocurrency trading, which the market interprets as another step toward the further institutionalization of digital assets.
Ultimately, the week ended on a somewhat bullish note for the crypto market, though without a full-fledged breakout. Bitcoin managed to hold near $78,000 and remained close to the week’s local highs, while Ethereum showed less resilience and retreated from the $2,400 range by the end of the period. If the external backdrop does not deteriorate, the market may continue its attempts to rise, though dependence on geopolitics and investors’ overall risk appetite remains high.
According to Fixygen, Iran is seeking to include a payment mechanism for ships passing through this key energy route in future agreements regarding the Strait of Hormuz. The Financial Times reported that Tehran wants to charge fees to loaded oil tankers, and, according to the publication, the Iranian Union of Oil Exporters insists on payments in cryptocurrency.
However, an independent review shows that the parameters of such a mechanism remain unclear. Reuters, citing a senior Iranian official, reports that Iran does indeed intend to charge a fee for passage through the strait as part of a potential peace agreement; however, according to this information, the fee amount is expected to vary depending on the type of vessel, the nature of the cargo, and other conditions.
Reports of preparations for a protocol with Oman, which may provide for permits and licenses for passage through the strait, serve as an additional indication that Tehran is already attempting to institutionalize control over the passage.
About one-fifth of global oil supplies pass through the Strait of Hormuz. Following the announcement of a two-week ceasefire between the U.S. and Iran, oil prices fell sharply, but market participants continue to factor in the risk that even if shipping resumes, Iran will attempt to maintain economic and political control over the route through new fees and restrictions.
According to Fixygen, the cryptocurrency market began the week by regaining key levels, and Bitcoin once again tested the $70,000 mark—the first such move in the past week and a half.
By midday, the asset was holding near $69,700, showing moderate growth and confirming the continuation of upward momentum following the previous consolidation phase. The session’s local high reached $70,250, signaling a return of buyer interest in the market.
Prices are being supported by the overall news backdrop, including discussions of a possible de-escalation in the Middle East. Potential negotiations for a temporary ceasefire are perceived by the market as a factor reducing global risks, which is traditionally favorable for risk assets, including cryptocurrencies.
At the same time, geopolitical uncertainty persists, keeping volatility at elevated levels. Reduced liquidity due to the Easter holidays in Europe and Asia remains an additional factor, amplifying price swings but not altering the overall picture of a gradual recovery.
As a result, the market is showing cautious optimism: current levels serve as a balancing zone where the foundation for further movement is being formed. If the macroeconomic outlook remains neutral or improves, Bitcoin could consolidate above $70,000 and continue moving toward new local highs, whereas negative signals could return the asset to a consolidation range without breaking the medium-term trend.
