ECB Wants Bans for Cryptos in Russia
Mar, 2022

ECB Wants Bans for Cryptos in Russia

The sanctions in the financial spectrum are getting more and more against Russia while the ban from SWIFT system was the major blow that could happen at this moment. Apart from that, Visa, Mastercard and Paypal has stopped to confirm transactions in Russian accounts.


But ECB wants to take it a step further. Russia is expected to use cryptos in larger scale from now on to avoid all those sanctions. For this reason, ECB want to add in the regulatory framework, a decision that will ban Russian users from European exchanges.


MiCA (Markets in Crypto Assets) was expected to pass from the European Parliament as there was a delay so there is time to add the sanctions part that was implemented against Russia.


We will wait to see what will happen in the crypto world…….