EU Regulators Ban Cross-Border Payments From Russian Crypto Accounts
In a statement on October 6, European Union regulators banned all crypto-asset wallets, accounts and custodial services of Russia.
New
In a statement issued on October 6, the European Union introduced a new round of sanctions against Russia due to the protracted and recently escalated conflict in Ukraine.
The new sanctions include a complete ban on cross-border crypto payments between Russians and the EU. This statement includes the prohibition of "all crypto-asset custody wallets, accounts or services, regardless of the amount of the wallet".
New sanctions have been put in place in response to Russia's annexation of Ukrainian territory following what the EU calls a "mock" referendum, as well as the mobilization of troops and threats of nuclear escalation.
Previous sanctions capped crypto payments from Russian wallets to the EU at 10,000 euros (about $9,900).
However, this new total ban on cross-border crypto payments between regions aligns with the EU's desire to "further deprive the Kremlin's military and industrial complex of key components and technologies".
Related: Russia blocks OKX website for allegedly unreliable financial information: Reports
This comes shortly after Russian authorities approved the use of crypto for cross-border payments. In politics, who approved such a transaction...
In a statement on October 6, European Union regulators banned all crypto-asset wallets, accounts and custodial services of Russia.
New
In a statement issued on October 6, the European Union introduced a new round of sanctions against Russia due to the protracted and recently escalated conflict in Ukraine.
The new sanctions include a complete ban on cross-border crypto payments between Russians and the EU. This statement includes the prohibition of "all crypto-asset custody wallets, accounts or services, regardless of the amount of the wallet".
New sanctions have been put in place in response to Russia's annexation of Ukrainian territory following what the EU calls a "mock" referendum, as well as the mobilization of troops and threats of nuclear escalation.
Previous sanctions capped crypto payments from Russian wallets to the EU at 10,000 euros (about $9,900).
However, this new total ban on cross-border crypto payments between regions aligns with the EU's desire to "further deprive the Kremlin's military and industrial complex of key components and technologies".
Related: Russia blocks OKX website for allegedly unreliable financial information: Reports
This comes shortly after Russian authorities approved the use of crypto for cross-border payments. In politics, who approved such a transaction...
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