EU regulators ban cross-border payments from Russian crypto accounts

In a statement released on Oct. 6, the European Union introduced another set of sanctions against Russia due to the prolonged and recently escalated conflict in Ukraine.

The new sanctions include a complete ban on cross-border crypto payments between Russians and the EU. This statement includes the prohibition of, “all crypto-asset wallets, accounts, or custody services, irrespective of the amount of the wallet.”

New sanctions were installed as a response to Russia’s illegal annexation of Ukrainian territory as the result of what the EU calls a “sham” referendum, along with troop mobilization and threats of nuclear escalation.

The previous sanctions capped crypto payments from Russian to EU walle