The European Union (E.U.) has banned the provision of high-value cryptocurrency services to Russia as part of the latest sanctions salvo in response to the invasion of Ukraine.
The move prohibits deposits to crypto wallets—including using popular cryptocurrencies bitcoin, ethereum, BNB, XRP, cardano, solana and luna—and follows a warning from European Central Bank president Christine Lagarde that cryptocurrencies pose a “threat” to the bloc’s efforts to sanction Russia.
The price of bitcoin, ethereum, BNB, XRP, cardano, solana, luna and other cryptocurrencies has soared over the last 18 months, making them increasingly attractive for illicit use even though they remain highly volatile.
