Switzerland freezes Russian citizens’ crypto assets
The Swiss Federal Government has decided to ban cryptocurrency for Russians on trading floors and other services. It was reported by the Financial Times.
The Financial Times post noted the freezing of Russians’ digital assets, which are stored on central crypto exchanges and other cryptocurrency services operating in the Swiss jurisdiction.
One of the sources of the publication in the Swiss Ministry of Finance said that additional steps should also be taken regarding crypto assets, as Switzerland wants to protect the integrity of the crypto industry.
After the start of the Russian military operation in Ukraine, Europe tightened sanctions on Russia, and some cryptocurrency services began to restrict users from Russia.
For example, various restrictions were imposed on Russians by crypto exchanges BTC-Alpha, KUNA, CEX IO and Qmall. Also, the largest South Korean exchanges have blacklisted Russian IP addresses.
On March 3, crypto exchange Binance clarified its policy on sanctioned banks. The representative of the exchange noted that ordinary users from Russia will not face personal restrictions, except when using the cards of banks that have fallen under sanctions.
