EU is said to weigh sanctions against Russia-linked stablecoin A7A5

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* The European Union is said to have proposed imposing sanctions on A7A5, a ruble-backed stablecoin tied to sanctioned Russian actors.
* The proposed restrictions will prohibit EU-based entities from engaging in transactions involving the token and will also target several banks in Russia, Belarus, and Central Asia, according to _Bloomberg News_.
* The move would prohibit EU-based individuals and companies from interacting with the token, either directly or via intermediaries, according to internal documents reviewed by _Bloomberg_.
* Following the EU’s September sanctions, A7A5 experienced a sharp spike in trading activity. On September 26, just a week after the announcement, its market capitalization jumped 250% in a single day, from $140 million to over $491 million.

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