Lithuania fines cryptocurrency firm Payeer $10.1 million

Odaily News Lithuania has imposed a record fine of 9.3 million euros (about 10.1 million U.S. dollars) on crypto company Payeer for sanctions and money laundering violations. In a statement released on Tuesday, the Lithuanian Financial Crimes Bureau said that Payeer allowed Russian customers to "transact in rubles by transferring funds from Russian banks sanctioned by the European Union." The statement noted that Russian individuals and legal entities were "given access to cryptocurrency wallets, account management or storage services." (Bloomberg)