Russians who have citizenship, residence permit or permanent residence permit of EU countries and Switzerland do not fall under the new EU sanctions on cryptocurrency

Clarifications to the October 6 European Union countries’ ban on the provision of services and maintenance of cryptoassets for Russians have been released.

The Explanation, published in the Official Journal of the European Union, states that “Paragraphs 1 and 2 do not apply when the trustee or beneficiary is a citizen of an EU member state or Switzerland, or an individual with a temporary or permanent residence permit in an EU member state or Switzerland.”