{"id":152605,"date":"2025-03-06T20:00:45","date_gmt":"2025-03-06T18:00:45","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=152605"},"modified":"2025-03-06T18:18:45","modified_gmt":"2025-03-06T16:18:45","slug":"eu-sanctions-prompt-tether-to-freeze-27-million-on-russian-exchange-garantex","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/eu-sanctions-prompt-tether-to-freeze-27-million-on-russian-exchange-garantex\/","title":{"rendered":"EU Sanctions Prompt Tether to Freeze $27 Million on Russian Exchange Garantex"},"content":{"rendered":"<p>Garantex <strong><a href=\"https:\/\/t.me\/Garantex_Announcements\/342\">shared<\/a> <\/strong>the news on March 6 through its Telegram channel, stating that the frozen funds amount to over 2.5 billion rubles. As a result, the exchange temporarily suspended all services, including withdrawals, while its website undergoes maintenance.<\/p>\n<p>This action comes shortly after the European Union sanctioned Garantex as part of a broader set of sanctions against Russia&#8217;s actions in Ukraine, announced on February 26. Garantex warned its users that all USDT held in Russian wallets is now at risk, emphasizing its commitment to fight these measures.<\/p>\n<p>The EU\u2019s sanctions follow similar actions by the U.S. Department of the Treasury&#8217;s Office of Foreign Assets Control (OFAC), which had already imposed restrictions on Garantex in April 2022. Garantex, a Russian crypto exchange established in late 2019, was originally registered in Estonia but largely operates out of Moscow and Saint Petersburg.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/mt-gox-moves-12000-btc-amid-ongoing-repayment-uncertainty\/\" title=\"Mt. Gox Moves 12,000 BTC Amid Ongoing Repayment Uncertainty\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/Mt.-Gox-close-to-repaying-its-creditors-Why-its-not-good-for-Bitcoin-1024x682-1-240x170.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Mt. Gox Moves 12,000 BTC Amid Ongoing Repayment Uncertainty<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>Despite being excluded from major crypto data platforms, Garantex&#8217;s trading volumes have reportedly surged by over 1,000% in the last three years, reaching $121.6 million in daily volume in early March 2025.<\/p>\n<p>While Tether\u2019s action may not significantly impact the global crypto market, it has drawn attention in Russia, where local lawmakers suggest that the freeze could be the first of many Western pressures on the crypto industry. However, they also argue that completely blocking the Russian crypto market remains unfeasible.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tether has taken a significant step by freezing $27 million worth of USDt on the Russian crypto exchange Garantex, which has led to the platform halting its operations.<\/p>\n","protected":false},"author":3,"featured_media":24768,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[26],"tags":[],"class_list":["post-152605","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocrime"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>EU Sanctions Prompt Tether to Freeze $27 Million on Russian Exchange Garantex<\/title>\n<meta name=\"description\" content=\"Tether 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