The EU has imposed full sanctions on the Russian cryptocurrency exchange, Garantex, blocking its operations entirely. Garantex was flagged for aiding sanctioned entities, raising concerns about illicit transactions. This move aims to prevent Russia from using digital assets to bypass restrictions and cut off potential loopholes for moving funds across borders. The sanctions could increase market volatility amidst ongoing economic challenges and the global crypto market, which is already facing difficulties from the recent economic crisis and ongoing hacks, may face further instability.



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