Ukraine has introduced restrictions to close loopholes for russian cryptocurrency transactions

This was announced by the President’s press office.

The sanctions apply to operators of platforms for trading digital financial assets, cryptocurrency services, financial platforms and clearing organisations.

Transactions involving virtual assets are also prohibited, as is the use of platforms, services or products that enable transactions with financial and virtual assets.

Certain provisions of the decision are in line with the approaches set out in the EU’s 19th and 20th sanctions packages against russia. At the same time, Ukraine has imposed broader restrictions, in particular regarding all virtual assets backed by the russian rouble.

Ukraine introduced sectoral sanctions against the russian financial sector in February 2023 for a period of 50 years.

These cover banks, non-bank credit organisations, payment system operators, stock market participants, insurance companies and investment funds registered or located in russia.

Source: Ekonomichna Pravda