YourCryptoNews
  • Live Prices
  • Crypto News
    • Altcoins
    • Bitcoin
  • Defi News
  • NFT News
  • Blockchain
  • Regulations
  • Trading
  • Scams
No Result
View All Result
YourCryptoNews
  • Live Prices
  • Crypto News
    • Altcoins
    • Bitcoin
  • Defi News
  • NFT News
  • Blockchain
  • Regulations
  • Trading
  • Scams
No Result
View All Result
YourCryptoNews
No Result
View All Result

EU Completely Forbids Crypto Payments from Russia

October 6, 2022
in Crypto News
Reading Time: 4 mins read
A A
EU Completely Forbids Crypto Payments from Russia
ShareShareShareShareShare

You might also like

NFT Collection Turf Plots Price, Stats, and Review

NFT Collection Turf Plots Price, Stats, and Review

January 28, 2023
Alfa Romeo taps crypto casino Stake as F1 Team title sponsor

Alfa Romeo taps crypto casino Stake as F1 Team title sponsor

January 28, 2023

The European Union has announced its eighth sanction package against Russia including a complete ban on Russia-originated payments to crypto wallets in Europe.

Take Advantage of the Biggest Financial Event in London. This year we have expanded to new verticals in Online Trading, Fintech, Digital Assets, Blockchain, and Payments.

In April, the political bloc had pegged crypto payments from Russia into wallets in the region at €10,000.

However, the European Commission announced on Thursday that the prohibition has been further tightened.

The bloc said it is “banning all crypto-asset wallets, accounts, or custody services, irrespective of the amount of the wallet.”

Keep Reading

The sanction, which is one of the bloc’s several new ‘hard-hitting’ measures, is the EU’s response to Russia’s continued war on Ukraine and attempt to annex the Donetsk, Luhansk, Kherson and Zaporizhzhia regions of Ukraine.

Other measures are the sanctioning of more individuals and entities, the extension of restrictions to the oblast of Kherson and Zaporizhzhia, and new export restrictions.

Furthermore, the new measures include new import restrictions worth €7 billion, the introduction of the G7 oil price cap on Russian oil, and a new listing criteria to punish people who facilitate the infringements of the prohibition against circumvention of sanctions.

“This package, which has been closely coordinated with our international partners, responds to Russia’s continued escalation and illegal war against Ukraine, including by illegally annexing Ukrainian territory based on sham ‘referenda’, mobilising additional troops, and issuing open nuclear threats,” the European Commission explained in a statement.

The SWIFT Sanction

In March, the EU banned seven Russian banks from accessing the Society for Worldwide Interbank Financial Telecommunications (SWIFT).

SWIFT is an international messaging system that allows banks all over the world to send messages and communicate cross-border payments securely and instantly.

The banned Russian banks were VTB, Bank Otkritie, Bank Rossiya, Sovcombank, Novikombank, VEB and Promsvyazbank.

“At the speed of light, the European Union has adopted three waves of heavy sanctions against Russia’s financial system, its high-tech industries and its corrupt elite,” the President of the European Commission, Ursula von der Leyen said.

The European Union has announced its eighth sanction package against Russia including a complete ban on Russia-originated payments to crypto wallets in Europe.

In April, the political bloc had pegged crypto payments from Russia into wallets in the region at €10,000.

Take Advantage of the Biggest Financial Event in London. This year we have expanded to new verticals in Online Trading, Fintech, Digital Assets, Blockchain, and Payments.

However, the European Commission announced on Thursday that the prohibition has been further tightened.

The bloc said it is “banning all crypto-asset wallets, accounts, or custody services, irrespective of the amount of the wallet.”

Keep Reading

The sanction, which is one of the bloc’s several new ‘hard-hitting’ measures, is the EU’s response to Russia’s continued war on Ukraine and attempt to annex the Donetsk, Luhansk, Kherson and Zaporizhzhia regions of Ukraine.

Other measures are the sanctioning of more individuals and entities, the extension of restrictions to the oblast of Kherson and Zaporizhzhia, and new export restrictions.

Furthermore, the new measures include new import restrictions worth €7 billion, the introduction of the G7 oil price cap on Russian oil, and a new listing criteria to punish people who facilitate the infringements of the prohibition against circumvention of sanctions.

“This package, which has been closely coordinated with our international partners, responds to Russia’s continued escalation and illegal war against Ukraine, including by illegally annexing Ukrainian territory based on sham ‘referenda’, mobilising additional troops, and issuing open nuclear threats,” the European Commission explained in a statement.

The SWIFT Sanction

In March, the EU banned seven Russian banks from accessing the Society for Worldwide Interbank Financial Telecommunications (SWIFT).

SWIFT is an international messaging system that allows banks all over the world to send messages and communicate cross-border payments securely and instantly.

The banned Russian banks were VTB, Bank Otkritie, Bank Rossiya, Sovcombank, Novikombank, VEB and Promsvyazbank.

“At the speed of light, the European Union has adopted three waves of heavy sanctions against Russia’s financial system, its high-tech industries and its corrupt elite,” the President of the European Commission, Ursula von der Leyen said.

Credit: Source link

Related Stories

NFT Collection Turf Plots Price, Stats, and Review
Crypto News

NFT Collection Turf Plots Price, Stats, and Review

January 28, 2023
Alfa Romeo taps crypto casino Stake as F1 Team title sponsor
Crypto News

Alfa Romeo taps crypto casino Stake as F1 Team title sponsor

January 28, 2023
Despite Recent Market Revival, These Crypto Companies Dismissed More Employees
Crypto News

Despite Recent Market Revival, These Crypto Companies Dismissed More Employees

January 28, 2023
Mashida (MSHD) Is Now Available on LBank Exchange
Crypto News

Mashida (MSHD) Is Now Available on LBank Exchange

January 28, 2023
Next Post

Bitcoin and Gold Correlation Spikes to Yearly Highs

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

China’s “Instagram” Chooses Conflux Network For Blockchain Integration

China’s “Instagram” Chooses Conflux Network For Blockchain Integration

January 25, 2023
Sam Bankman-Fried denies he tried to sway witness, awaits possible contact restrictions

Sam Bankman-Fried denies he tried to sway witness, awaits possible contact restrictions

January 28, 2023

Popular Story

    • Contact Us
    • Privacy Policy
    • Terms of Use
    • DMCA

    © 2021 - YourCryptoNews.net - All rights reserved!

    No Result
    View All Result
    • Live Prices
    • Crypto News
      • Altcoins
      • Bitcoin
    • Defi News
    • NFT News
    • Blockchain
    • Regulations
    • Trading
    • Scams

    © 2021 - YourCryptoNews.net - All rights reserved!

    • bitcoinBitcoin (BTC) $ 22,981.00 0.32%
    • ethereumEthereum (ETH) $ 1,566.38 1.85%
    • tetherTether (USDT) $ 1.00 0.14%
    • usd-coinUSD Coin (USDC) $ 0.999751 0.16%
    • bnbBNB (BNB) $ 304.96 0.8%
    • xrpXRP (XRP) $ 0.408896 0.74%
    • binance-usdBinance USD (BUSD) $ 1.00 0.07%
    • cardanoCardano (ADA) $ 0.380754 1.45%
    • dogecoinDogecoin (DOGE) $ 0.087630 0.86%
    • matic-networkPolygon (MATIC) $ 1.14 1.43%
    • okbOKB (OKB) $ 38.84 7.08%
    • solanaSolana (SOL) $ 23.85 1.36%
    • staked-etherLido Staked Ether (STETH) $ 1,565.97 1.64%
    • polkadotPolkadot (DOT) $ 6.35 2.49%
    • shiba-inuShiba Inu (SHIB) $ 0.000012 0.45%
    • avalanche-2Avalanche (AVAX) $ 20.55 1.04%
    • litecoinLitecoin (LTC) $ 88.66 0.47%
    • tronTRON (TRX) $ 0.063015 0.83%
    • daiDai (DAI) $ 0.999457 0.08%
    • uniswapUniswap (UNI) $ 6.58 3.65%
    • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 22,966.00 0.04%
    • cosmosCosmos Hub (ATOM) $ 13.10 1.14%
    • the-open-networkToncoin (TON) $ 2.50 0.8%
    • chainlinkChainlink (LINK) $ 7.16 2.27%
    • leo-tokenLEO Token (LEO) $ 3.77 2.13%
    • moneroMonero (XMR) $ 185.16 3.08%
    • ethereum-classicEthereum Classic (ETC) $ 21.60 1.3%
    • aptosAptos (APT) $ 17.91 0.92%
    • bitcoin-cashBitcoin Cash (BCH) $ 131.35 2.08%
    • stellarStellar (XLM) $ 0.092597 0.24%
    • apecoinApeCoin (APE) $ 5.97 4.74%
    • quant-networkQuant (QNT) $ 149.05 1.55%
    • nearNEAR Protocol (NEAR) $ 2.45 2.77%
    • crypto-com-chainCronos (CRO) $ 0.081122 0.4%
    • filecoinFilecoin (FIL) $ 5.21 2.87%
    • lido-daoLido DAO (LDO) $ 2.23 6.54%
    • algorandAlgorand (ALGO) $ 0.255339 1.5%
    • vechainVeChain (VET) $ 0.024095 2.87%
    • internet-computerInternet Computer (ICP) $ 5.98 0.37%
    • hedera-hashgraphHedera (HBAR) $ 0.066855 3.97%
    • axie-infinityAxie Infinity (AXS) $ 11.31 1.13%
    • decentralandDecentraland (MANA) $ 0.691920 2.04%
    • aaveAave (AAVE) $ 83.68 3.01%
    • eosEOS (EOS) $ 1.09 2.04%
    • the-sandboxThe Sandbox (SAND) $ 0.731938 0.91%
    • fantomFantom (FTM) $ 0.444224 5.01%
    • elrond-erd-2MultiversX (EGLD) $ 44.36 0.25%
    • flowFlow (FLOW) $ 1.05 1.85%
    • theta-tokenTheta Network (THETA) $ 1.07 4.42%
    • terra-lunaTerra Luna Classic (LUNC) $ 0.000173 0.46%