The European Union has tightened crypto-currency sanctions for Russians

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In the near future, companies registered in Europe may begin to restrict the access of Russians to cryptocurrency accounts and wallets.

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The EU authorities have adopted a new package of sanctions that limits the possibilities for Russia’s foreign trade, from which it follows that citizens of the Russian Federation can actually be denied access to the use of the largest cryptocurrency exchanges operating in Europe. The new package of sanctions was adopted in response to the voting by the Russian authorities on the annexation of four Ukrainian regions to the territory of the country:

“Existing bans on cryptoassets have been tightened by banning all wallets, accounts, or custody services of cryptoassets, regardless of wallet amount (previously allowed up to €10,000).”

It is reported that European cryptocurrency companies will be banned from opening and maintaining accounts for Russian citizens. Now there is a restriction introduced in the spring that prohibits holding more than €10,000 on cryptocurrency accounts of such platforms as Binance.
The new package of sanctions also included a €7 billion import ban on Russian goods, coal exports to the Russian Federation, electronic components for weapons, technical products for aviation and chemicals.

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At the same time, the document published by the EU states that restrictive measures are directed against key decision makers, oligarchs, high-ranking military officers and propagandists.

It is not yet clear how exactly the largest sites with branches in Europe will comply with the new sanctions. There are fears that such large platforms as Binance or Coinbase will execute the new package of sanctions. They implemented the fifth package of sanctions unquestioningly and on time.

Earlier, Anatoly Aksakov, Chairman of the State Duma Committee on the Financial Market of the Russian Federation, said that Russian stock exchanges have all the resources to launch international cryptocurrency payments.

Source: Bits

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