EU will prohibit Russians to transfer cryptocurrency to European wallets

The European Union in response to the fake referenda in four Ukrainian regions will completely ban Russian investors to transfer cryptocurrency to the European wallets.

Here's What We Know

Ursula von der Leyen, chairman of the European Commission, said that the sham referenda are an illegal attempt by the Russian Federation to seize other people's lands by force. CoinDesk's informant argues that the European Union's response would be to tighten sanctions.

In April 2022, they limited transfers from Russia to European cryptocurrency wallets to €10,000. The decision was made in an attempt to eliminate the possibility of circumventing sanctions through cryptocurrency. After the adoption of the new sanctions package, Russians will not be able to keep money in cryptocurrency wallets of the European Union at all.

Source: CoinDesk