– The European Union has adopted a wide range of sanctions targeting Russia’s government, economy, and trade.
– Among the sanctions is a ban on the provision of all crypto wallet, account, or custody services to Russian residents and entities.
– A number of crypto exchanges have not conformed to the European requirements yet, including Binance, Coinbase, Kraken, FTX, Garantex, Huobi Global, Okx, Kucoin, Mexc Global, and Bybit.
– Exmo sold its Russian business in April but Exmo.me continues to facilitate crypto trading in Russia and its close partners, Belarus and Kazakhstan.
– Cryptocurrency has been viewed as a tool allowing Russians to export wealth and circumvent financial sanctions.
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