Lithuania fines cryptocurrency company Payeer 10.1 million dollars

ChainCatcher news, Lithuania imposes a record fine of 9.3 million euros (approximately 10.1 million dollars) on the crypto company Payeer for sanctions and money laundering violations.

The Lithuanian Financial Crime Investigation Service stated in a statement released on Tuesday that Payeer allowed Russian clients "to conduct ruble transactions by transferring funds from EU-sanctioned Russian banks." The statement noted that Russian individuals and legal entities were "given the opportunity to access cryptocurrency wallets, account management, or storage services."