EU set to ban Russian crypto payments after ‘sham’ referenda

The European Union will tighten restrictions on Russians’ crypto investments within the bloc as it seeks to respond to “sham” independence votes being held in Russian-occupied regions of Ukraine.

According to CoinDesk, a previous cap of crypto holdings of 10,000 euros ($9,600) will be scrapped, potentially meaning Russians won’t be able to hold any assets in EU crypto wallets.