Market News
Sanctioned Russian crypto exchange suspends services as Tether blocks wallets - REUTERS
By Elena Fabrichnaya and Alexander Marrow
MOSCOW, March 6 (Reuters) - Russian cryptocurrency exchange Garantex on Thursday said stablecoin Tether had blocked digital wallets on its platform holding more than 2.5 billion roubles ($28 million), forcing it to suspend operations days after coming under EU sanctions.
The European Union included Garantex in its 16th sanctions package against Russia over the conflict in Ukraine on February 24, accusing the crypto exchange of being closely associated with EU-sanctioned Russian banks and responsible for circumventing EU sanctions.
