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The European Union will tighten restrictions on crypto investment by Russians inside the bloc as part of a new package of sanctions, CoinDesk reports.

The previous restriction on cryptocurrency assets of 10,000 euros will be lifted, a source told the portal, meaning that Russians will not be able to keep any assets in EU cryptocurrency wallets.

In April, the EU announced that it would limit Russian payments to European cryptocurrency wallets to 10,000 euros because it wants to stop the use of digital assets to circumvent restrictions on large bank transfers. The new measures mean that this figure can now be reduced to zero.

Full details of the package have not yet been released, as it is still subject to approval by EU member states.

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