Under the eighth round of sanctions introduced by the EU in response to Russia’s February 24 invasion of Ukraine, Blockchain.com and Crypto.com will soon stop providing their services to accounts connected to Russia and recommend users withdraw their funds from platforms.
As Cryptory.net reported, on Oct 6, EU announced the latest sanctions package against Russia in which all wallets, accounts, crypto custody service, irrespective of the amount of the wallet to the Russians in the bloc have been banned. The package also included new EU import bans worth of 7 billion euro in an attempt to curb Russia’s revenues as well as export restrictions.
Blockchain.com will allow Russian users to withdraw their funds and rewards until Oct 27, after that their accounts will be locked. Crypto.com, meanwhile, blocked Russian users from accessing the app but did not provide any information regarding the withdrawal.
Last week, Dapper Labs, the company behind the Flow blockchain, also suspended Russian accounts after EU sanctions. Russia-tied accounts can no longer sell, buy or donate non-usable tokens (NFTs), withdraw funds from their accounts or add to their balances, Dapper Labs stated. However, Dapper Labs has not closed the accounts. Users can continue to access and view their NFTs.
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