BitMEX to limit access to Russian nationals trading from the EU
The new rules of the platform will come into force on July 11
05.07.2022 - 13:25
386
2 min
0
What’s new? Crypto derivatives exchange BitMEX will limit access to the platform to the Russian Federation’s residents who use its services from the EU countries. The changes are related to the EU sanctions. They will affect Russian citizens, including persons “trading on behalf of any legal entity that receives access to the services of the exchange from the EU,” as well as companies located or established in the Russian Federation whose traders use the platform while in the European Union. The restrictions will come into force on July 11. The information appeared on the ForkLog website, citing BitMEX representatives.
Information on the ForkLog website
What exceptions are possible? The restrictions do not apply to Russian citizens if they are residents of the EU or Switzerland or have dual EU or Swiss citizenship and reside outside of Russia. Such users need to contact the company’s support in order to proceed. According to BitMEX representatives, the restrictions will also not affect Russian customers of the exchange located in the Russian Federation.
What is known about BitMEX? The cryptocurrency derivatives exchange was founded in 2014 and is headquartered in Seychelles. There are 60 currency pairs on the platform. In 2016, the exchange introduced perpetual futures. In early April 2022, BitMEX cut a quarter of its staff. This came after the exchange’s subsidiary BXM Operations AG refused to buy the German bank, Bankhaus von der Heydt.
In March, the Japanese authorities urged crypto exchanges not to process transactions subject to asset freezing sanctions on users from Russia and Belarus. In April, the EU limited investments of the Russian Federation’s citizens in cryptocurrency to €10 000 as part of the fifth sanctions package. Later, the Binance and Coinbase exchanges reported the suspension of services to users from Russia.
Useful material?
Telegram 
Twitter Market
According to the founder of TRON, the leading US crypto exchange asked for several hundred million dollars for the listing of TRX
Nov 4, 2024
Incidents
The company conducted fictitious trading for six years to inflate the trading volume of tokens of several companies, receiving payment for these services
Nov 1, 2024
Market
1,5 million addresses have already left applications
Oct 31, 2024
Business
The company began investing in bitcoin in 2020, and since then, the value of its securities has risen by 1700%
Oct 30, 2024
Mining
The Deputy Energy Minister explained that in deficit regions, it is impossible to allocate large capacities for industry enterprises until 2030
Oct 30, 2024
Market
Customers will also be able to withdraw funds to bank accounts using cards
Oct 30, 2024
Cryptocurrency rates
-
Bitcoin
$68 650
BTC
-0.4%
-
Ethereum
$2 435.45
ETH
-1.6%
-
BNB Smart Chain
$570.25
BSC
-0.32%
-
Ripple
$0.508154
XRP
-0.59%
-
Dogecoin
$0.170716
DOGE
+7.39%
-
Cardano
$0.330491
ADA
-1.1%
-
Bitcoin Cash
$338.29
BCH
-0.58%
-
Polkadot
$3.83
DOT
+0.51%
-
Litecoin
$66.01
LTC
-1.58%
-
Stellar XLM
$0.092137
XLM
+0.3%