TechFlow reported, citing Bloomberg, that Lithuania has fined cryptocurrency firm Payeer a record 9.3 million euros ($10.1 million) for violations related to sanctions on Russian clients and anti-money laundering regulations.
In a statement on Tuesday, Lithuania's Financial Crime Investigation Service said Payeer allowed Russian customers to conduct ruble transactions by transferring funds from Russian banks sanctioned by the European Union. The statement noted that Russian individuals and legal entities had access to cryptocurrency wallet, account management, or storage services.
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