Russians Still Able To Use Crypto Exchanges Despite Recent EU Sanctions
The post Russians Still Able To Use Crypto Exchanges Despite Recent EU Sanctions appeared first on Coinpedia Fintech News
According to Russian crypto media, a variety of crypto exchanges, including global platforms, have not imposed any limitations on Russian users following the EU’s most recent sanctions round. The latest European sanctions target a variety of crypto-related services in an effort to put pressure on Russia as the situation in Ukraine escalates.
Last week, the European Union passed a wide range of sanctions with the intention of putting further pressure on Russia’s government, economy, and commerce. The ninth set of EU sanctions, among other things, prohibited the supply of any cryptocurrency wallet, account, or custody services to Russian people and businesses.
Bittrex Charged For Violating Sanctions, US Treasury Agrees To Settle
The post Bittrex Charged For Violating Sanctions, US Treasury Agrees To Settle appeared first on Coinpedia Fintech News
The Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control (OFAC) of the United States Treasury Department reported on October 11 that they had settled charges with the crypto exchange Bittrex. The cryptocurrency exchange was charged with breaking sanctions and failing to establish appropriate sanctions compliance measures from March 2014 to December 2017.
The violations were caused by transactions from “individuals reportedly situated in the Crimea area of Ukraine, Iran, Sudan, Cuba, and Syria,” according to US Treasury regulators. U.S. officials state that the transactions added up to $263M worth of cryptocurrency transactions that were in violation of the country’s financial sanctions.