Lithuania fines cryptocurrency firm Payeer $10.1 million

Lithuania has imposed a record €9.3 million (approximately $10.1 million) fine on cryptocurrency company Payeer for sanctions and money laundering violations. The Lithuanian Financial Crime Investigation Bureau stated in a statement that Payeer allowed Russian customers to "conduct ruble transactions by transferring funds from EU-sanctioned Russian banks." The statement said that Russian individuals and legal entities had "the opportunity to obtain cryptocurrency wallet, account management or storage services".