Crypto exchange BitMEX to ban Russian users

Wednesday 6 July 2022 14:44 CET | News

Cryptocurrency exchange BitMEX has announced plans to increase compliance with the European sanctions against Russia by preparing to enforce major restrictions for its Russian users.

BitMEX is changing its restricted jurisdictions policy to be compliant with various restrictive measures of the European Union. The crypto exchange notified a group of potentially affected users about the upcoming changes via email.

Russian citizens or residents will no longer be able to access BitMEX services from the European Union after 11 July 2022. That means that such users will not be able to log into their account or access any services from the European Union, unless an exception applies.

The new restrictions do not apply to Russian citizens or residents accessing BitMEX services from the EU who are also residents in the EU or Switzerland. Dual citizens of the EU or Switzerland who reside outside Russia will also not be affected.

The measure targets all types of traders, including persons trading on behalf of any legal persons, while they access BitMEX from the EU, as well as legal persons established in Russia, whose traders access the services from the EU. The announcement doesn’t point to any impact on Russian customers accessing BitMEX services from Russia.

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Keywords: financial sanctions, compliance, cryptocurrency exchange
Categories: DeFi & Crypto & Web3
Companies: BitMEX
Countries: Russian Federation
This article is part of category

DeFi & Crypto & Web3


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