In a groundbreaking move, the European Union has decided to put sanctions on Russian crypto exchange Garantex, shaking the core of Moscow's crypto market. This is a first not just for Garantex, but for the EU as they tackle concerns over its connections to sanctioned Russian banks and the platform's alleged threats to global financial stability.
The pressure on Garantex has been mounting, as it's not only facing the heat from the EU but has also been sanctioned by the UK and the US previously. With asset-freezes in effect and a ban on transactions, this could spell serious trouble for Garantex and its users, who may soon find their crypto stranded and inaccessible.
This event raises crucial questions about the safety of investing through exchanges. As the crypto market remains volatile, reliance on centralized exchanges (CEX) can be risky. In contrast, non-custodial wallets like Best Wallet are stepping into the spotlight. With security features like multi-factor authentication and biometrics, they offer a safer bet for holding crypto assets. And for those eyeing investment opportunities, the $BEST token has been catching attention, boasting a healthy growth even amidst market fluctuations.
As crypto enthusiasts assess their strategies, it's crucial to consider the implications of centralized exchange vulnerabilities and look into robust alternatives. With the right choices, investors can navigate through the uncertainty and potentially capitalize on the ongoing market shifts.
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⚠️ Disclaimer: This analysis is for informational purposes only and should not be considered financial or investment advice.
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