Pan expert told what to do with cryptocurrency in connection with the EU ban on servicing crypto assets of Russians
Russians have several options that can be used after the introduction of the European Union ban on the maintenance of crypto assets of citizens of the Russian Federation. Igor Pan, a specialist in digital assets of the Finmir marketplace, told Izvestia about this on October 6.
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How is this related to the restriction of settlements in dollars and euros and what is regulated by
He clarified that with the introduction of the next restrictions, Russians may lose the opportunity to store their cryptocurrencies and trade them on centralized crypto exchanges.
“But this is only at first glance.
After all, our compatriots before that could keep no more than € 10 thousand in accounts on the exchanges of Binance and others that have received recognition in the community, and now they are deprived of such an opportunity,” the expert noted.
According to Pan, Russians can transfer their crypto accumulations from exchanges licensed in Europe to “cold wallets” that are not linked to any exchange and exist in digital form or in physical form. The digital asset specialist stressed that this is the safest way.
“The second option is to transfer to exchanges that do not have a license in Europe, for example, OKX. But difficulties may arise here, because in Russia any settlements between Russians in cryptocurrencies can be banned, and the site of the OKX exchange, which is quite popular among Russians, has already been banned,” Pan said.
Earlier in the day it became known that the European Union adopted the eighth package of anti-Russian sanctions in connection with the reunification with the Russian Federation of the Donetsk and Lugansk People’s Republics, as well as the Kherson and Zaporozhye regions. According to the new restrictions, including a complete ban on servicing crypto assets of citizens and residents of the Russian Federation. In addition, it is prohibited to provide Russian companies with IT, engineering and legal services.
First Deputy Chairman of the State Duma Committee on International Affairs Alexei Chepa said that the next package of anti—Russian sanctions is an attempt of economic pressure from the United States.
Western countries are imposing restrictions on the Russian Federation against the background of a special operation to protect Donbass, which Russian President Vladimir Putin announced on February 24. The decision was made due to the deterioration of the situation in the region due to shelling by the Ukrainian military.
For more relevant videos and details about the situation in Donbass, watch the Izvestia TV channel.