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One of the Russian customers of the Bitstamp bitcoin exchange reported that the account was blocked without the possibility of withdrawal. He said on his Reddit platform that
One of the Russian customers of the Bitstamp bitcoin exchange reported that the account was blocked without the possibility of withdrawal. He said on his Reddit platform that the company was taking action “in light of current events in Ukraine and subsequent regulatory directives.”
According to the user, the exchange blocked his account in mid-April. It has lost access to functions related to trading, deposits and withdrawals.
No statement was made regarding the restrictions for users from the Russian Federation in the official Bitstamp communication channels. However, it was previously reported that the exchange blocked transactions related to sanctioned banks.
This #crypto swap @bitstamp informs customers not to use #Russian Sberbank now for deposits… Result of sanctions #Russia for the occupation #Ukraine! #bit stamp #bitcoins pic.twitter.com/6coVxz7vMQ
— HRMS | ARDANA $DANA ISPO Pool (@Wiiinnie) February 28, 2022
ForkLog sent a request to the company, but did not receive a quick response.
At the same time, Coinbase chief attorney Paul Grewal said the exchange is following regulatory requirements and restricting access only to users on sanctions lists.
As a result of the EU’s recent sanctions, @coinbase It is no longer able to provide crypto services to certain Russian customers registered with our EU assets or located in the EU.
– paulgrewal.eth (@iampaulgrewal) May 3, 2022
“Due to recent EU sanctions, Coinbase is no longer able to provide cryptocurrency services to certain Russian customers registered with our European operations or located in the EU,” Grewal said.
He stressed that the company will continue to serve customers who are not subject to sanctions. Coinbase also said it has partnered with “affected” users to provide them with an opportunity to prove they are exempt from the restrictions.
On May 5, Coinbase management asked customers residing in the Russian Federation to withdraw funds from the exchange until May 31 to avoid freezing. It is forbidden to fill the wallet before this date.
Earlier, Coinbase announced that it is ready to impose sanctions against Russia. At the same time, the company noted that it will not take preventive measures against addresses associated with users in the Russian Federation.
Recall that in April, Binance blocked the accounts of relatives of Kremlin officials.
Source: Fork Log
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
