It is a well-known fact that cryptocurrencies are becoming more and more widespread day by day and are being adopted by many people around the world. When this is the case, events in countries also cause new news about these currencies, which are seen as the technologies of the future.
As it is known, Russia started to organize a military operation towards Ukraine towards the end of February and was on the agenda of the whole world. After that, sanctions against Russia came from many countries and companies. After that, it was stated that cryptocurrencies could also come into play here, and that the Russians could turn to these currencies to avoid sanctions. Now, there has been a move from the European Union on this issue.
crypto services in Russia banned
announced new sanctions against Among these decisions, which were stated to be taken to close certain gaps, there was also a ban on high-value crypto money services to Russians.
In the statements, it was stated that this decision, which is included in the sanctions package, was taken due to the concerns caused by the possibility of Russians moving their money abroad with the help of crypto wallets to avoid other sanctions. This showed that all cryptocurrency exchanges and wallets based in the European Union will be banned in the country.
In these decisions, which are the fifth sanctions package of the EU against the country, it was also stated that four banks, which constitute 23% of the banking sector in Russia, were banned from transactions. In a statement regarding the decisions, the officials said, “These sanctions, which will deeply affect the Russian economy, will contribute to increasing the economic pressure on the Kremlin and will hinder the financing of the invasion.”
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