June 14, 2024

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The European Union (EU) doubled down on previous sanctions against Russia which limited bitcoin and cryptocurrency transactions resulting in an outright ban against all transactions, per a statement from the European Commission.

“The Commission welcomes the Council’s adoption of an eighth package of hard-hitting sanctions against Russia for its aggression against Ukraine,” reads the statement.

All bitcoin and cryptocurrency wallets, accounts and custody services in Russia are hereby banned. Previously, transactions were limited to €10,000 ($9,900).

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