The European Union outlined that certain Russian and Belarussian companies and individuals are expelled from trading cryptocurrencies with the EU.
The European Union made it clear that cryptocurrencies, which fall into the category “transferable assets,” are included in the financial sanctions imposed on Russia for its invasion of Ukraine. Additionally, the EU implemented similar penalties on Belarus for assisting the Russian war-like regime.Similar to the USA, the European Union vowed not to deploy military troops to Ukraine and, as of the moment, stands away from a direct conflict with Russia.
“The EU confirmed the common understanding that loans and credit can be provided by any means, including crypto assets, as well as further clarified the notion of ‘transferable securities,’ so as to clearly include crypto-assets, and thus ensure the proper implementation of the restrictions in place,” the organization added in its statement.
Not surprisingly, the EU extended its sanctions to Belarus, too. The Eastern European country has aided the Russian “special military operation,” and for that reason, many local banks were expelled from SWIFT. In addition, EU central securities depositories will no longer accept transfer deposits exceeding €100,000 made by Belarussian nationals.
a blockchain exchange-traded fund tracking prominent companies in the cryptocurrency industry, such as Coinbase and Galaxy Digital. This became the first such product in Russia, enabling traders to delve into the digital asset sector without purchasing, storing, or selling tokens.
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