Crypto companies registered in the European Union may face a ban on servicing Russian citizens and companies.
Bloomberg has reported that the restrictions will become part of the new sanctions package, which is now being negotiated in Brussels. In particular, crypto wallets based in EU jurisdiction will not be able to store digital currencies of users from Russia.
In addition, Russian individuals and legal entities will not be able to use European platforms to transfer funds to other countries.
The largest crypto exchanges have been imposing restrictions on Russian users over the past few months as a result of the military actions in Ukraine.
