Crypto․com starts blocking accounts of Russians

The platform's decision comes into effect immediately

14.10.2022 - 09:45

417

2 min

What’s new? Cryptocurrency exchange Crypto․com sent out emails to Russian users with the notification of blocking their accounts. The company noted that the decision was taken in accordance with the eighth package of EU sanctions. The ruling of the exchange comes into effect immediately. It is not known yet whether Crypto․com users have the opportunity to withdraw their funds.

More about the situation. On October 6 the EU authorities banned the crypto platforms to serve Russian users, regardless of the sum of assets on their accounts. NFT-platform Dapper has already supported the sanctions, freezing the funds of Russians. It was joined by cryptocurrency exchange LocalBitcoins, as well as blockchain explorer and cryptocurrency wallet service Blockchain.com. The latter left the possibility of withdrawing assets for customers from the Russian Federation.

Representatives of cryptocurrency exchange Binance said that they were not going to limit access to customers from Russia for the time being and would leave the possibility of withdrawing funds if necessary to comply with sanctions. Cryptocurrency exchange Huobi Global said it would not impose restrictions in line with the sanctions.

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

Author: