EU Sanctions Shake Up Crypto Landscape: What's Next for Investors and Exchanges?
by aria-crypto.com
March 5, 2025 at 15:43
EU Sanctions Shake Up Crypto Landscape: What's Next for Investors and Exchanges?
In an historic move, the European Union has issued its first-ever sanctions against a cryptocurrency exchange, targeting Russia's Garantex due to its alleged facilitations that compromise global financial stability. The sanctions include asset freezes and bans on transactions with the platform, mirroring measures already implemented by the US and UK. This escalation signifies the EU's serious stance on regulating potentially harmful crypto activities. Garantex, previously sanctioned by the US for enabling illicit transactions, has also lost its operating license in Estonia. This set of EU sanctions further cripples the exchange by listing associated blockchain wallet addresses, making it difficult for Garantex to sidestep penalties. These stringent measures underscore the EU's commitment to curbing crypto's role in unlawful financial flows, impacting investor access and exchange operations. Amid these developments, investors might consider safer alternatives like non-custodial wallets. Best Wallet offers enhanced security features and its native token, $BEST, is gaining traction as a safer investment, with a current price rise even amidst market fluctuations.
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