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Saturday, June 3, 2023

Another cryptocurrency exchange joined the anti-Russian sanctions

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Cryptocurrency exchanges registered in the European Union began to limit the possibilities of Russian users.

Last week, the Blockchain.com service announced that it was joining the sanctions against the Russian Federation. Until October 27, users of this crypto wallet must withdraw funds, otherwise they will be blocked. According to Izvestia, in the very near future, the Cryptopay platform will stop servicing Russian users. Investors from the Russian Federation must withdraw funds from this exchange by October 21. after this date, access to digital assets can only be restored through the Cryptopay support service.

However, regular service will continue for those categories of Russians who permanently reside in the European Union and the UK. At the same time, some crypto services do not yet plan to impose any restrictions on investors from the Russian Federation. For example, the Polish exchange BitBay recently announced that it would not freeze the crypto wallets of Russians.

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Crypto investments come with high risk and you should always exercise caution when investing in any crypto asset. Investing in crypto carries a high level of risk, and may not be suitable for all investors. Any investment decisions made by you are made at your own risk and we are not responsible for any losses that may occur. Before investing, we recommend you consult a financial advisor to understand the risks and rewards associated with investing in crypto.

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