New Russia Sanctions Include Crypto Wallets Target by EU
NDTV
The European Union targeted crypto wallets, banks, currencies and trusts in its fifth package of sanctions on Russia to close potential loopholes.
The European Union on Friday targeted crypto wallets, banks, currencies and trusts in its fifth package of sanctions on Russia in a bid to close potential loopholes which could allow Russians to move money abroad.
Following Russia's invasion of Ukraine on Feb. 24, EU-based crypto exchanges were already required to apply sanctions that bar transactions from targeted individuals, but there were concerns that loopholes remained.
The EU on Friday said it was extending the prohibition to deposits to crypto-wallets.
"This will contribute to closing potential loopholes," the EU's executive European Commission said in a statement.