Cryptocurrency exchange BitMEX announced that Russians living in the EU will lose access to the site. The reason for this decision was “the desire to comply with the requirements of European regulators.”
The site sent a corresponding notification to users who fall under the restrictions. The letter states that access for Russian users residing in the EU will be limited as early as July 11. They will not be able to log into their account and therefore access their funds.
At the same time, there is a reservation that access can be granted in an “exceptional case”. In addition, the restrictions will not affect Russians with dual citizenship or residence permits in European countries.
“If you are a resident of the European Union or Switzerland, or have dual citizenship and do not live in Russia, you can provide additional information and apply for an exception to these restrictions. Then you can continue to use our services,” the announcement says.
The restrictions should prevent traders trading on BitMEX from Europe in favor of Russian individuals or legal entities. For Russians trading from Russia, no restrictions are currently planned to be introduced.
Recall that initially BitMEX was a cryptocurrency derivatives platform, but in May of this year it also launched a spot platform.
Source: Bits
I’m James Harper, a highly experienced and accomplished news writer for World Stock Market. I have been writing in the Politics section of the website for over five years, providing readers with up-to-date and insightful information about current events in politics. My work is widely read and respected by many industry professionals as well as laymen.
