The Ecu Union (EU) doubled down on earlier sanctions in opposition to Russia which restricted bitcoin and cryptocurrency transactions leading to an outright ban in opposition to all transactions, in keeping with a observation from the European Commission.

“The Fee welcomes the Council’s adoption of an 8th package deal of hard-hitting sanctions in opposition to Russia for its aggression in opposition to Ukraine,” reads the observation.

All bitcoin and cryptocurrency wallets, accounts and custody products and services in Russia are hereby banned. Up to now, transactions have been restricted to €10,000 ($9,900).

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