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EU Bans All Russian Crypto Wallets and Payments in New Sanctions Package

Started by Epoch-Times-Bot, Oct 08, 2022, 02:15 PM

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Epoch-Times-Bot

Oct 08, 2022, 02:15 PM
EU Bans All Russian Crypto Wallets and Payments in New Sanctions Package

Further tightening its financial sanctions against Russia for invading Ukraine, the European Union has announced a complete ban on crypto payments to Moscow.
"The existing prohibitions on crypto assets have been tightened by banning all crypto-asset wallets, accounts, or custody services, irrespective of the amount of the wallet (previously up to €10,000 was allowed)," the European Commission said in an Oct. 6 press release. The new measures have been introduced as part of the eighth package of sanctions and will thus cease all crypto payments between Russia and the European Union.
The ban came into effect on Thursday. The only Russian entities and residents allowed to procure services of European crypto providers will be those who live or operate in the EU bloc....

Source: EU Bans All Russian Crypto Wallets and Payments in New Sanctions Package

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