Kazakhstan’s ATAIX Eurasia crypto exchange will stop serving Russians on December 15

The decision was taken to comply with EU sanctions

05.12.2023 - 12:18

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2 min

What’s new? Kazakhstan’s ATAIX Eurasia crypto exchange will stop servicing citizens and residents of the Russian Federation, as well as companies registered in its territory. In a statement to customers said that the reason was the need to comply with the EU sanctions. The company apologized for the inconvenience, recommending Russians to “take all necessary measures” to close the account and withdraw funds before December 15, “to avoid any unforeseen difficulties.”

Material by Frank Media

What else is known? The EU authorities imposed a ban on servicing Russian crypto wallets as part of the eighth package of sanctions back in October last year. Many companies joined its compliance, including Dapper NFT marketplace, Ledger hardware wallet manufacturer, as well as Blockchain com, Crypto com, Cryptopay, and Kraken exchanges. Earlier this year, experts noted that Russians have increasingly started buying other people’s accounts on exchanges to circumvent sanctions, despite the risk of encountering fraud.

Binance, the largest crypto exchange, also began the process of exiting the Russian market in late September. It sold its entire local business to CommEX due to allegations of violating US sanctions. Since November 15, Binance has not accepted deposits in Russian rubles. Users in Russia began to move to other global exchanges, with Bybit, HTX, and Deribit becoming the most popular in October.

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