It is a known fact that cryptocurrencies are becoming more and more widespread by the day and are being adopted by many people around the world. When this is the case, events in countries also bring new news about these currencies, which are seen as the technologies of the future.

As known Russia, towards the end of February, began organizing a military operation in Ukraine and was on the agenda of the whole world. After that, sanctions against Russia came from many countries and companies. After that, cryptocurrencies can also play a role here, and the Russians use this currency to evade sanctions. can direct had been pronounced. Now a step has been taken from the European Union on this issue.

Crypto Services Banned in Russia

According to the news, it has put restrictions on private cryptocurrencies in recent weeks. European Unionannounced new sanctions against Russia, which invaded Ukraine. Among these decisions, allegedly made to fill certain gaps, the Russians have banning high-value cryptocurrency services was also present.

The statements said that this decision, which is included in the sanctions package, was taken amid concerns about the possibility that Russians could move their money abroad using crypto wallets to avoid other sanctions. This means that all established in the European Union Cryptocurrency exchanges and wallets are banned in the country. showed.

These decisions, the EU’s fifth package of sanctions against the country, also stated that four banks, which make up 23% of the banking sector in Russia, were banned from transactions. Authorities also said in a statement about the decisions: “These sanctions, which will have a major impact on the Russian economy, will contribute to increasing economic pressure and it will hinder the financing of the invasion.” the expressions used.