Switzerland eyes freezing Russian cryptocurrency assets

Switzerland has taken a strong stance against Russians holding cryptocurrency within its borders and will freeze those assets, Report informs referring to CryptoPotato.

The typically neutral country has joined the EU and the US in imposing financial sanctions against Russians following the war started by Russia. Moreover, the nation’s authorities have also gone after their cryptocurrency holdings within Switzerland’s borders.

According to Swiss Finance Minister Guy Parmelin, the government had previously frozen bank accounts and other assets of 223 clients from Russia.

From Switzerland, Russian President Vladimir Putin, Prime Minister Mikhail Mishustin and Foreign Minister Sergey Lavrov were subjected to personal sanctions. Swiss banks will also freeze their financial assets, if any.

Binance on March 3 restricted the access of Russian bank card users who fell under international sanctions. At the same time, the crypto exchange assured that it does not want to freeze the accounts of millions of Russian users, but is ready to comply with new international restrictions.