Big news about cryptocurrency! The European Union (EU) is trying to stop a Russian cryptocurrency exchange called Garantex. Garantex has been letting bad guys use it for a long time. It's like a secret bank for criminals.
- Garantex lets people send and receive money using cryptocurrency.
- The U.S. already tried to stop Garantex before, but it kept going.
- Experts think Garantex helps criminals and terrorists hide their money.
- The EU hopes stopping Garantex will make it harder for bad people to use crypto.
| Fact | Number/Detail |
|---|---|
| Garantex's yearly transactions | Billions of dollars |
| Percentage of inflows to sanctioned entities Garantex and Nobitex accounted for | Over 85% |
| Year US sanctioned Garantex | 2022 |
