Russia and Cryptocurrency Rumor from the European Union: What are the New Measures?

In response to the independence votes in the Russian-occupied parts of Ukraine, the European Union has called for Russians in the EU. cryptocurrency tighten restrictions on investments.

According to the sources, Russians could be completely prevented from holding crypto money in the EU under the new measures

A person familiar with the sanctions package said that a previous €10,000 cryptocurrency asset limit would be lifted, potentially meaning that Russians would not be able to hold any assets in EU crypto wallets.

In April, the EU announced that it would limit Russia’s payments to European crypto wallets to 10,000 euros, as it seeks to stop the use of digital assets to circumvent restrictions on large bank transfers.

The new measures mean that this figure can now be reduced to zero.

Ursula von der Leyen, President of the European Commission, told reporters on Wednesday, after voting in the past five days in Donetsk, Luhansk, Kherson and Zaporizhzhia, that “fake referendums in Russian-occupied territories are aimed at seizing territory and forcibly changing international borders. It is an illegal attempt,” he said.

Von der Leyen said that a ceiling price will be imposed on Russian oil, the export of aviation products and electronic components will be banned, and restrictions will be imposed on the import of Russian goods, which will cost the country seven billion euros.

Full details of the package have not yet been published as they are subject to approval by EU member states.

The sanctions imposed on the country by Russian citizens in the early stages of the Ukraine-Russia war bitcoin and there were rumors that it could be pierced with cryptocurrencies.

*Not investment advice.