BitMex will limit the accounts of residents of Russia selling on the exchange from the EU

The Bitmex cryptoderivat exchange announced a number of restrictions for residents of the Russian Federation using the services of the EU platform. FORKLOG information was confirmed by company representatives.

Changes to the BitMex policy are made in connection with the sanctions introduced by the European Union. They will affect Russian residents, including people who “sell any legal entity on behalf of any legal entity”, as well as companies located or established in the Russian Federation, whose traders use the exchange from the EU.

The restrictions will not affect Russian citizens who access BitMex from the EU countries if:

• They are residents of the EU or Switzerland;
• have dual citizenship of the EU or Switzerland and live outside Russia.

If the client falls into these exceptions, he must contact BitMex to continue working with the site.

Otherwise, Russian users will not be able to access the account while in the European Union. Restrictions will enter into force on July 11 and affect all such accounts, regardless of the amount of funds in the Coinbase changes account.

They will not touch on Russian customers of the exchange in the Russian Federation, representatives of BitMex said in a conversation with FORKLOG.

Recall that immediately after the start of the war in Ukraine, Kuna, Whitebit and Cex cryptocurrency exchanges.IO introduced restrictions for customers from Russia. Access to users with Russian IP addresses was blocked by BitHumb, Upbit, Coinone and Korbit.

In April, the European Union approved the fifth package of sanctions against Russia due to its invasion of Ukraine. According to him, providing services related to digital assets to companies to provide them with residents of the Russian Federation, whose deposits exceed € 10,000.

After that, the restrictions for the accounts of citizens of the Russian Federation, on which the total cost of crypto acts exceeds the indicated amount, was announced by Binance Exchange.

On May 5, the leadership of Coinbase asked customers who are residents of the Russian Federation to withdraw funds from the exchange in order to avoid freezing. BitStamp users also reported on blocking accounts without the possibility of withdrawing funds.

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