BitMEX cryptocurrency exchange in an attempt to strengthen compliance with the European union’s sanctions against Russia is restricting its services to Russian users.
Cointelegraph has discovered that BitMEX is altering its policy regarding prohibited jurisdictions in order to comply with the different restrictive restrictions adopted by the European Union.
On Monday, the BitMEX cryptocurrency exchange sent an email to a list of users who would be impacted informing them of the impending changes.
After July 11, 2022, residents of or nationals of Russia will no longer be able to access BitMEX services from the European Union, according to an email received by Cointelegraph.
In other words, unless a “exception applies,” these users won’t be able to access any services from the European Union or log into their accounts.
Russian nationals or residents who utilize BitMEX services from the EU and who are also residents of the EU or Switzerland are not subject to the new limitations. The email further states that dual citizens of the EU or Switzerland who reside outside of Russia would not be impacted.
The statement read, “You may submit further information to apply for an exemption and continue to access our Services from the EU if you are a resident in the EU or Switzerland or a dual citizen of the EU or Switzerland and reside outside Russia.”
The policy targets all types of traders, including those who use it on behalf of other legal entities while doing so from the EU, as well as Russian-based legal entities whose traders use the EU to access BitMEX. The notice makes no mention of any effects on Russian users of BitMEX who access such services from Russia.
Following a wave of big exchanges like Binance announcing limits for Russian users, BitMEX recently imposed new restrictions against Russians in the EU. The majority of these limitations were imposed within the first two months following the “special military operation” in Ukraine, which was launched on February 24 by Russian President Vladimir Putin.
