Denmark seeks EU sanctions on russia’s crypto

Denmark, currently holding the EU presidency, intends to discuss with the ministers ways to “further hamper russia’s war-financing ability and warfare capability,” according to a document seen by the political news outlet.

The hosts are pitching the idea to impose additional sanctions on russian revenues from oil and gas sales and hit its banking and finance sector, including crypto operations. 

russia, which allowed companies to use cryptocurrencies in foreign trade settlements, has long been suspected of utilizing digital coins for cross-border payments as its access to traditional financial channels remains severely limited.

Crypto platforms and banks allegedly helping russian entities were recently sanctioned by both U.S. and the U.K. authorities, as reported by Cryptopolitan.

Source: Cryptopolitan