{"id":13221,"date":"2022-04-09T03:40:05","date_gmt":"2022-04-09T03:40:05","guid":{"rendered":"http:\/\/egrowonline.com\/?p=13221"},"modified":"2022-04-09T03:40:05","modified_gmt":"2022-04-09T03:40:05","slug":"eu-limits-russian-cryptocurrency-deposits-to-e10000","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=13221","title":{"rendered":"EU Limits Russian Cryptocurrency Deposits to \u20ac10,000"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"\">\n<section class=\"article-key-takeaways\">\n<h3>Key Takeaways<\/h3>\n<ul>\n<li>The European Union will prohibit crypto services from accepting deposits from Russian sources greater than \u20ac10,000.<\/li>\n<li>This rule applies to companies that provide wallet, account or custody services; exchanges are presumably included.<\/li>\n<li>EU-based credit institutions are also prohibited from accepting non-cryptocurrency deposits above \u20ac100,000.<\/li>\n<\/ul>\n<\/section>\n<section class=\"article-share top\">\n<h4>Share this article<\/h4>\n<\/section>\n<p>The European Union has set a limit on cryptocurrency deposits originating from Russia, according to a legal publication today.<\/p>\n<h2>Russian Crypto Deposits Limited to \u20ac10,000<\/h2>\n<p>The new rules are <a target=\"_blank\" href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/PDF\/?uri=OJ:L:2022:111:FULL&amp;from=EN\" rel=\"noopener noreferrer\">set out<\/a> in the Official Journal of the European Union under the section headed Council Regulation (EU) 2022\/576.<\/p>\n<p>According to the text of the document, EU businesses are prohibited from providing services to Russian entities that would deposit more than \u20ac10,000 ($10,900) worth of cryptocurrency.<\/p>\n<p>The rule applies to crypto companies that provide wallet, account, or custody services. As such, the rule presumably applies to all crypto exchanges, brokerages, and trading platforms.<\/p>\n<p>The rule covers individuals and businesses alike: \u201cRussian nationals or natural persons residing in Russia, [and] legal persons, entities or bodies established in Russia\u201d all fall under the scope of the law.<\/p>\n<p>The text of the document additionally sets out limits for non-cryptocurrency deposits. EU-based credit institutions are prohibited from accepting deposits from Russian entities if the total value of the deposit is above \u20ac100,000 ($108,700).<\/p>\n<p>The EU Council cited the \u201cgravity of the situation\u201d of Russia\u2019s invasion of Ukraine, stating that it is \u201cappropriate to extend the prohibition on deposits to crypto-wallets\u201d in light of current events.<\/p>\n<h2>Restrictions Announced Earlier Today<\/h2>\n<p>The EU announced financial restrictions against Russia <a target=\"_blank\" href=\"https:\/\/cryptobriefing.com\/eu-issues-fresh-russia-crypto-sanctions\/\" rel=\"noopener\">earlier today<\/a>, including prohibitions on \u201chigh-value crypto-asset services,\u201d but the precise limits were not known at that time.<\/p>\n<p>Those rules also include several other prohibitions. Four Russian banks have been banned from the EU, Russia is now banned from participating in procurement contracts, and various European banknotes and securities can no longer be exported.<\/p>\n<p>Various other non-financial restrictions were also included in the package, including transport, import, and export bans.<\/p>\n<p>The EU previously imposed sanctions in conjunction with G7 countries on <a target=\"_blank\" href=\"https:\/\/cryptobriefing.com\/g7-and-eu-impose-fresh-crypto-sanctions-on-russia\/\" rel=\"noopener\">Mar. 11<\/a> and was involved in the decision to cut off Russia from the SWIFT banking network in <a target=\"_blank\" href=\"https:\/\/cryptobriefing.com\/west-cuts-russia-from-swift-over-ukraine-attack\/\" rel=\"noopener\">late February<\/a>.<\/p>\n<p><em>Disclaimer: At the time of writing this author held less than $100 of Bitcoin, Ethereum, and altcoins.<\/em><\/p>\n<section class=\"article-share bottom\">\n<h4>Share this article<\/h4>\n<\/section>\n<section class=\"article-footer\">\n<div class=\"disclaimer\">\n<div class=\"disclaimer-content\">\n<p>The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.<\/p>\n<p>You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.<\/p>\n<p>See <a target=\"_blank\" href=\"https:\/\/cryptobriefing.com\/terms-and-conditions\" rel=\"noopener\">full terms and conditions<\/a>.<\/p>\n<\/div>\n<\/div>\n<\/section>\n<section class=\"recommended-posts\">\n<div class=\"section-content\">\n<div class=\"posts-list\">\n<div class=\"post-item na-item\" data-na_id=\"114506\" data-na_location=\"recommended\">\n<a target=\"_blank\" class=\"article-url\" href=\"https:\/\/celsius.network\/promo-codes?utm_campaign=cryptobriefing&amp;utm_medium=paid_media&amp;utm_term=website_native_text_ad&amp;c=sponsored_content_cryptobriefing_website_native_text_ad&amp;pid=sponsored_content\" rel=\"noopener\"><\/p>\n<div class=\"info\">\n<h3 class=\"title\">Get up to $600 in AVAX or LUNA<\/h3>\n<p>\nWith our goal of bringing the next 100 million people to crypto, Celsius is always looking to provide the best experiences and opportunities for our community. This includes looking for&#8230; <\/p>\n<\/div>\n<\/div>\n<div class=\"post-item \">\n<a target=\"_blank\" class=\"article-url\" href=\"https:\/\/cryptobriefing.com\/european-parliament-moves-forward-on-anti-anonymity-rules\/\" rel=\"noopener\"><\/p>\n<div class=\"info\">\n<h3 class=\"title\">European Parliament Moves Forward on Anti-Anonymity Rules<\/h3>\n<p>\nCommittees within the European Parliament have voted in favor of harsh new regulations surrounding unhosted crypto wallets. The complete and primary vote is pending, though it is reportedly likely to&#8230; <\/p>\n<\/div>\n<\/div>\n<div class=\"post-item \">\n<a target=\"_blank\" class=\"article-url\" href=\"https:\/\/cryptobriefing.com\/european-parliament-may-vote-to-ban-anonymity-in-crypto\/\" rel=\"noopener\"><\/p>\n<div class=\"info\">\n<h3 class=\"title\">European Parliament May Vote to Ban Anonymity in Crypto<\/h3>\n<p>\nEuropean Parliament members are reportedly planning a vote next week that, if successful, could bar anonymity in crypto payments, including crypto transactions to unhosted wallets. The reports also suggest EU&#8230; <\/p>\n<\/div>\n<\/div>\n<div class=\"post-item \">\n<a target=\"_blank\" class=\"article-url\" href=\"https:\/\/cryptobriefing.com\/european-parliament-votes-against-proof-of-work-ban\/\" rel=\"noopener\"><\/p>\n<div class=\"info\">\n<h3 class=\"title\">European Parliament Votes Against Proof-of-Work Ban<\/h3>\n<p>\nThe European Parliament\u2019s Economic and Monetary Affairs Committee has voted against a regulatory provision that could have led to a ban on Proof-of-Work mining. This provision was part of the&#8230; <\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/cryptobriefing.com\/eu-limits-russian-cryptocurrency-deposits-to-e10000\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways The European Union will prohibit crypto services from accepting deposits from Russian sources greater than \u20ac10,000. This rule applies to companies that provide wallet, account or custody services; exchanges are presumably included. EU-based credit institutions are also prohibited from accepting non-cryptocurrency deposits above \u20ac100,000. Share this article The European Union has set a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13222,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[36],"tags":[52,685,4230,1396],"class_list":["post-13221","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-cryptocurrency","tag-deposits","tag-limits","tag-russian"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/04\/eu-768x403.png","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/13221","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13221"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/13221\/revisions"}],"predecessor-version":[{"id":13223,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/13221\/revisions\/13223"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/13222"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13221"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13221"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13221"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}