Crypto derivatives exchange BitMEX has announced a set of restrictions from the EU for residents of the Russian Federation using the platform’s services. ForkLog information has been verified by company representatives.

In connection with the sanctions imposed by the European Union, changes are being made to the BitMEX policy. These will affect Russian residents, including individuals “trading on behalf of any legal entity accessing the services of the exchange from the EU”, as well as companies whose merchants are located or established in the Russian Federation using the exchange from the EU.

The restrictions will not apply to Russian citizens accessing BitMEX from EU countries if:

• EU or Swiss residents;
• Have dual EU or Swiss citizenship and live outside of Russia.

If the client runs into these exceptions, it must contact BitMEX to continue working with the platform.

Otherwise, Russian users will not be able to access the account while in the European Union. The restrictions will come into effect on July 11 and will affect all such accounts, regardless of the amount of funds in the account.

In a meeting with ForkLog, BitMEX representatives said that the exchange located in the Russian Federation will not affect their Russian customers.

Recall that immediately after the start of the war in Ukraine, cryptocurrency exchanges Kuna, WhiteBIT and CEX.io introduced restrictions for customers from Russia. Access to users with Russian IP addresses has been blocked by Bithumb, Upbit, Coinone, and Korbit.

In April, the European Union approved a fifth package of sanctions against Russia for its invasion of Ukraine. Accordingly, companies providing services related to digital assets are prohibited from providing them to residents of the Russian Federation whose deposits exceed 10,000 euros.

After that, restrictions were announced by the Binance exchange for the accounts of citizens of the Russian Federation, where the total value of their crypto assets exceeds the specified amount.

On May 5, Coinbase management asked customers residing in the Russian Federation to withdraw funds from the exchange to avoid freezing. Bitstamp users also reported that their accounts were blocked without the ability to withdraw funds.

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