Big news in the world of cryptocurrency! A Russian cryptocurrency exchange called Garantex got into trouble. The EU put sanctions on them because they were helping people get around the rules. This means Garantex can't use its money easily.
- Tether, a type of digital money that's supposed to be like a dollar, blocked Garantex's accounts.
- This blocked over $28 million worth of money!
- Garantex had to stop working for now.
- Some Russians use cryptocurrency to send money around the world because of other sanctions.
| Fact | Number |
|---|---|
| Money blocked | $28 million |
| Ruble to Dollar Exchange Rate | 89.25 roubles per dollar |
A Russian lawmaker thinks that while this is a setback, it won't stop people in Russia from using cryptocurrency completely. It's a complex situation with lots of moving parts.
