• March 28, 2024

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The EU to Ban Cryptocurrency Transactions for Russian Users

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The EU intends to consider the possibility of a complete ban on the provision of cryptocurrency services in the eurozone for Russians.

According to CoinDesk, these sanctions are being discussed in response to the holding of bogus referendums in the Russian-occupied regions of Ukraine.

The source has added that the previous limit on user transactions with deposits over €10,000 ($9,600) will be lifted. Potentially, this means that Russian citizens will not be able to store any assets in EU crypto wallets.

The detailed content of the new package of sanctions has not yet been published and is subject to agreement with the EU member states.