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Russians Kicked Off Crypto Exchanges Due to EU Sanctions

It’s been just reported that a lot of Russian journalists and activists are being kicked off crypto exchanges due to the EU sanctions. Check out the latest reports below.

Russians kicked off crypto exchanges

It’s been just revealed that crypto exchanges LocalBitcoins, and have notified their Russian users that their services will soon be discontinued.

It’s also important to note the fact that the exchanges recommended that the users withdraw funds from their accounts.

CoinDesk notes the following:

“The new sanctions package adopted last week by the European Commission tightened the earlier restrictions on providing Russian citizens with financial services in Europe. The sanctions are aimed at punishing Russia for starting the war in Ukraine.”

According to the same reports, until now, crypto companies in the European Union were prohibited from providing crypto custody to Russian users who had more than 10,000 euros ($97,000) worth of assets in their accounts.

It also seems that the boosted package terminated that threshold, and the ban now covers all accounts Russian citizen keep crypto in, regardless of the size.

Check out the original notes revealed in the article by CoinDesk. 

Bitcoin in the news

Earlier today, we revealed that Willy Woo said not too long ago that 12% of the world’s population will be using Bitcoin in the next 36 months.

“Bitcoin took six months to get 1,000 users; five years to find one million users. Today, 13.8 years from inception, it has 300 million+ users, 4% of the world. At current growth rates, one billion users will be hit in the next three years.”

He continued and said this:

“To clarify, these are unique users, not addresses.”

Regarding the price of Bitcoin today, at the moment of writing this article, BTC is trading in the red and the king coin is priced at $19,163. Stay tuned for more news from the crypto space.

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