Broad new EU crypto sanctions targeting Russians aren't necessarily hitting the right targets. baidakova reports
Until now, crypto companies in the EU were prohibited from providing cryptocurrency custody to Russian users having more than €10,000 worth of assets in their accounts. The boosted package does away with that threshold, and the ban now covers all accounts Russian citizen keep crypto in, regardless of the size., told CoinDesk he received an email from LocalBitcoins on Oct. 8 saying that he can can withdraw his bitcoin in one transaction and then his account would no longer be available to him.
Suharev, who is based in Georgia, said he used crypto to pay freelancers in Russia. With that country having been recently cut off from the global payment networks due to the sanctions, cryptocurrencies are one of the very few options left for remittances.In the email, LocalBitcoins – a Finland-based company and one of the world’s oldest p2p bitcoin marketplaces – said the restrictions wouldn't apply to those Russians who are also citizens or permanent residents of the EU.
Daniil Chebykin, coordinator of the project Omsk Civil Union which is helping Russians to avoid recruitment to the war, used Blockchain.com to raise money via crypto. He told CoinDesk he received an email from that exchange on Oct. 14, saying he had until Oct. 27 to withdraw funds. Chebykin left Russia soon after the war started and is working from abroad now.Crypto.com, a U.K.
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