😱 Urgent! Tether Freezes Garantex Wallets Holding 2.5 Billion Rubles

😱 Urgent! Tether Freezes Garantex Wallets Holding 2.5 Billion Rubles

Sanctions and restrictions. In 2022, Garantex was accused of failing to comply with anti-money laundering and counter-terrorism financing regulations. In March 2023, authorities in the United States🇺🇸 and the United Kingdom🇬🇧 launched an investigation into its operations.

➡️ The exchange has temporarily suspended all its services, including cryptocurrency withdrawals.

➡️ Context: Garantex is the main liquidity provider for rubles, facilitating access to cryptocurrencies for users in Russia. The platform allows transactions with rubles and Russian bank cards, and according to its data, USDT is the most used cryptocurrency in the country.

⛔️ Risk of a total freeze: All USDT in Russian wallets is at risk. Garantex warns: "We are the first, but we won’t be the last."

⚠️ Sergey Mendeleev, founder of the platform and industry expert, commented: "I’ve been warning about this for at least two years, but the Central Bank and the crypto community didn’t listen. Were they expecting a ‘black swan’? Well, here it is.”.

According to Mendeleev, developing mechanisms to prevent such freezes would only take "a couple of days."

#news #crypto #Russia #USA

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