Sanctions may contribute to the emergence of new players in the market
According to TRT, published in the Financial Times, the European Commission aims to impose a ban on any cryptocurrency transactions related to Russia.
The publication notes that such strict measures against cryptocurrency service providers could create favorable conditions for the emergence of new players.
The document states: “To ensure the effectiveness of the sanctions, [the EU] prohibits any interaction with cryptocurrency service providers and the use of platforms that allow the transfer and exchange of cryptocurrencies developed in Russia.”
The adoption of new sanctions requires the approval of all EU member states. However, according to diplomats, three out of 27 countries have expressed doubts and requested further clarifications, FT reports.
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