Crypto exchange Huobi refuses to impose restrictions against users from Russia

Representatives of the company reported that its services in the territory of the Russian Federation will continue to work as usual

13.10.2022 - 11:50

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What’s new? Representatives of the Huobi Global cryptocurrency exchange said that the platform will not impose restrictions against Russian users, provided for by the eighth package of European sanctions. The exchange’s team about announced this on its Telegram channel. The company noted that Huobi services in the Russian Federation “will not be affected in any way.”

Huobi’s message

More details about the situation. On October 6, the EU authorities tightened restrictions on the use of digital assets by citizens from the Russian Federation, completely banning crypto companies from servicing Russians, regardless of the amount of assets on their accounts.

Representatives of the Binance crypto exchange said that they have not yet received confirmation of the tightened rules and noted that if it is necessary to comply with the new restrictions, the exchange’s customers from the Russian Federation will be able to withdraw their funds from the platform.

In this, NFT platform Dapper has already begun to comply with the sanctions, freezing the assets of Russians, and the Finnish cryptocurrency exchange LocalBitcoins, the company will allow customers from Russian Federation to withdraw funds, after which they will close their wallets.

To find out which other platforms have begun to comply with the sanctions and where Russians can withdraw their assets, see GetBlock Magazine’s article.

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