Since Russia does not stop its military aggression against Ukraine, but, on the contrary, holds illegal so-called “referendums” on the annexation of the occupied Ukrainian territories, the EU is tightening economic sanctions against the aggressor country. New restrictions in the eighth package of sanctions affect, among other things, cryptocurrency transactions and wallets.
Given the new restrictions, European companies will be prohibited from opening cryptocurrency accounts and cryptocurrency wallets for Russian citizens, as well as providing cryptocurrency storage services for Russians. In fact, we are talking about a complete ban on crypto-service operators registered in the EU from cooperating with residents of the aggressor country.
Note that at the end of April, the EU introduced the fifth package of sanctions against Russia. At that time, restrictions were imposed on the work of Russians with crypto assets in Europe, but they allowed them to store up to €10,000. Now this opportunity is not available to Russians either.
“Existing bans on crypto assets have been tightened by banning all wallets, accounts or crypto asset custody services, regardless of wallet amount (previously allowed up to €10,000),” the European Commission said in a statement.
A Binance spokesperson told several Russian sites (including TASS and Forbes ) that there are currently no additional restrictions for Russians on the exchange. At the same time, it is reported that the sanctions will not affect p2p transfers, which are widely used to buy games bypassing regional restrictions.
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Source: finbold
