Switzerland intends to freeze crypto assets under its control that belong to Russian companies and individuals sanctioned by the EU over the war in Ukraine. The Financial Times reports.
According to Guy Parmelin, a member of the Swiss Federal Council, authorities have already identified and frozen bank accounts and other assets of 223 Russians in accordance with the sanctions.
“If someone stores private keys themselves, wherever they are, they cannot be identified. But if they use crypto services — funds, exchanges and other — we can influence them,” Parmelin said.
He also described the freezing of digital assets as necessary “to safeguard the integrity” of the crypto industry.
Earlier, Coinbase and the issuer of the USDT stablecoin — Tether Operations Limited — said they were prepared to comply with sanctions against Russian users if given the requisite directives.
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