A shadow network of Russia-linked exchanges enables sanctions evasion via crypto, Elliptic reports. The firm identified five platforms: ABCeX, Exmo, Rapira, Bitpapa, and Aifory Pro. ABCeX processed at least $11 billion, while Rapira has been linked to over $72 million in transactions with sanctioned exchange Grinex.

At least five Russia-linked cryptocurrency exchanges continued to provide financial channels for sanctioned entities after the U.S. seizure of Garantex in March 2025, with most platforms not yet sanctioned, Elliptic said on Feb. 22. Only peer-to-peer platform Bitpapa was added to the U.S. Treasury OFAC sanctions list in March 2024, and approximately 9.7% of its outgoing funds flowed to sanctioned entities while it frequently changed wallet addresses to evade monitoring, the firm said. Elliptic reported that unsanctioned ABCeX operates from the Moscow Federal Building, Garantex's former headquarters, and has processed at least $11 billion in cryptocurrency transactions, with sizable flows linked to Garantex and Aifory Pro; Exmo, despite claiming it exited Russia after the 2022 Russia-Ukraine conflict, still shares custodial wallet infrastructure with Russia-based Exmo.me and conducted over $19.5 million in direct transactions with sanctioned entities including Garantex, Grinex and Chatex. The report added that Rapira traded over $72 million directly with sanctioned platform Grinex, and Aifory Pro offered cash-to-crypto services in Moscow, Dubai and Turkey, helping users bypass Western service restrictions via USDT virtual cards; Chainalysis previously reported illicit crypto addresses received $154 billion in 2025, including over $93.3 billion involving the ruble-backed A7A5 stablecoin, while TRM Labs estimated the annual total at approximately $158 billion.

President Trump announced on Truth Social that he is raising the global import tariff rate from 10% to 15%, effective immediately, after the U.S. Supreme Court struck down his earlier "reciprocal tariffs" and fentanyl-related tariffs as unauthorized under the International Emergency Economic Powers Act. Trump is now invoking Section 122 of the Trade Act of 1974, which allows temporary tariffs of up to 15% on all imports for up to 150 days in cases of trade imbalance, a provision never previously used and requiring congressional approval for extension. The tariff applies to all global imports with potential exemptions for critical goods such as energy and key minerals, Trump said, adding that additional "lawful tariff measures" will be rolled out in coming months.

Five cryptocurrency exchanges are allegedly helping Russia evade sanctions and filling the gap left by Garantex, Elliptic reports. The blockchain analytics firm said the platforms have emerged as alternatives occupying the space previously associated with Garantex. Elliptic characterized the exchanges as stepping into a role linked to the sanctioned entity while being connected to Russia's sanctions circumvention efforts.

Polymarket and Kalshi data show prediction markets pricing scenarios for U.S. tariff refunds and potential new 10% blanket tariffs after the Supreme Court ruled 6-3 on Feb. 21, 2026, that President Trump lacked authority under the 1977 International Emergency Economic Powers Act to impose sweeping emergency duties. On Polymarket, a contract on whether the U.S. government will be forced to refund tariffs by June 30, 2026, shows 17% odds with $98,432 in weekend volume, while a separate market assigns 95% probability that a new 10% U.S. blanket tariff will be in effect by Feb. 28 and 84% by March 31, alongside 63% odds that China's tariff rate lands between 5% and 15% by March 31 and 95% probability of a Trump visit to China by April 30, 2026. Kalshi's contract on a court-ordered tariff refund assigns roughly 20% odds to such an order before April 1, 2026, rising to 54% by July 2026 and 72% before 2027 on $231,531 in total trading volume. Additional Polymarket bets include 27% odds of a tariff increase on Canada by June 30, 93% probability that Trump faces another lawsuit over tariff powers by March 31, 10% odds of a tariff dividend by March 31, and 25% probability that Indonesia is where Trump strikes a new trade deal before 2027.

Trump plans to raise the worldwide tariff benchmark to 15% from 10%. The increase applies to global duties across all countries.

President Trump raised the global tariff rate to 15% from 10%, affecting all countries. The measure applies across-the-board to imports from every country.

European Central Bank President Christine Lagarde is expected to step down before France's next presidential election, a move analysts say could affect how the EU advances its Markets in Crypto Assets framework, addresses DeFi regulatory gaps and sets the pace for digital euro rollout. Under Lagarde, the EU moved MiCA from draft to enforcement and advanced the digital euro from an investigation phase launched in October 2021 to a preparation stage announced in October 2025, positioning it as a euro-denominated digital payment option within the bloc. Leading candidates to succeed Lagarde, including Pablo Hernández de Cos and Klaas Knot, have publicly emphasized crypto risks and the need for strict oversight, signaling continuity in Europe's standards-driven approach to crypto regulation and cross-border payments.

BNP Paribas Asset Management has issued a tokenised share class of a French-domiciled money market fund on the public Ethereum network, the company said. The tokenised shares use permissioned tokens, allowing only eligible participants to hold and transfer them, marking the firm's second money market tokenisation pilot following an earlier trial on a private blockchain in 2025. Edouard Legrand, chief digital and data officer at BNP Paribas Asset Management, said the issuance on public blockchain infrastructure aims to explore how tokenisation might enhance operational efficiency and security within a regulated framework.