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Saturday, September 23, 2023

New wave of sanctions on Russia! EU says to ‘ban Russians from owning cryptocurrencies’

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According to CoinDesk , the European Union will tighten cryptocurrency investments by Russians in the bloc in response to a new wave of sanctions in response to Russia’s “fake referendum” in Russian-occupied Ukraine. A person familiar with the sanctions package said that the previous cap on holding 10,000 euros ($9,600) of cryptocurrencies will be lifted, which may mean that Russians will not be able to hold any assets in crypto wallets in the European Union in the future 

The European Union announced in April that it would limit Russian payments in EU crypto wallets to 10,000 euros, as the bloc sought to prevent Russians from using digital currency transfers to circumvent EU restrictions on transfers by big Russian banks. If the EU removes the cap, as the source said, it means the cap will drop to zero, which means “no holding”.

Russia held a referendum on entry into Russia from September 23 to 27 in Luhansk, Donetsk, Kherson and Zaporozhye states, and soldiers were reported People with guns are asked to go to the polls. ” The sham referendum in Russian-occupied territory is an illegal attempt to seize land and change international borders,” European Commission President Van der Leyen told reporters on the 28th .

Van der Leyen announced a series of new sanctions against Russia, including a price cap on Russian oil, a ban on exports of aviation products and electronic components to Russia, and restrictions on imports of Russian goods, measures she said would cost the country 70 percent. billion euros.

Details of the aforementioned sanctions package and cryptocurrency-related restrictions have yet to be released, as the unanimous agreement of EU member states is still pending.

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