Cryptocurrency derivatives exchanges deribit is closing its services for Russian users to follow the European Union sanctions.
The company headquartered in the Netherlands announced that it will implement trading sanctions beginning With full account closure for 17 February, 29 March.
In a notice Posted On 5 February, Deribit stated that Russian citizens and residents would no longer be able to reach their platform until they meet specific exceptions.
Russian users living in European Economic Zone or Switzerland will still be allowed to trade. However, Russian citizens living in non-EEA countries, as well as Russian business, are completely restricted from using exchanges.
Russia vs Russia of European Union
The decision follows the ongoing financial sanctions of the European Union against Russia. Users affected by restrictions will be placed on “only-cum” mode, allowing them to close existing positions but will stop new trades.
Withdrawal will be available even after the last bandh date.
