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Lithuania imposes record fine on cryptocurrency firm over sanctions
Lithuania has fined cryptocurrency firm Payeer a record 9.3 million euros ($10.1 million) for sanctions and money laundering violations involving Russian customers.
Payeer allowed Russian customers to “transact in Russian rubles by transferring them from Russian banks sanctioned by the European Union,” the Financial Crimes Investigation Service said in a declaration Tuesday. Russian individuals and legal entities were “given the opportunity to receive cryptocurrency wallet, account management or storage services,” the service said.