BitMEX Blocks Russian Citizens From Using Cryptocurrency Exchange Services Across Europe

BitMEX continues to strive to improve compliance with European sanctions against Russia.(photo: twitter @BitMEX )

JAKARTA - Major cryptocurrency exchange BitMEX continues to seek to improve compliance with European sanctions against Russia by preparing to impose major restrictions on its users in the red bear country.

BitMEX amended its limited jurisdiction policy to comply with various European Union restrictive measures. Reported by Cointelegraph, crypto exchange BitMEX notified a group of potentially affected users about the upcoming changes via email on Monday, July 4.

According to the email seen by Cointelegraph, Russian citizens or residents will no longer be able to access BitMEX services from the European Union after July 11, 2022. That means that such users will not be able to log into their accounts or access any services from the European Union, except for “exceptions applied"

According to the email, the new restrictions do not apply to citizens of Russia or residents accessing BitMEX services from the EU who are also residents of the EU or Switzerland. EU or Swiss dual nationals living outside Russia will also not be affected.

"If you are a resident in the EU or Switzerland or a dual EU or Swiss citizen and reside outside Russia, you may submit additional information to apply for an exception and continue to access our Services from the EU," the statement said.

The measure targets all types of traders, including people who trade on behalf of any legal entity, when they access BitMEX from the EU, as well as legal entities established in Russia, whose merchants access services from the EU.

The announcement does not show any impact on Russian customers accessing the BitMEX service from Russia.

BitMEX's latest restrictions on Russia in the EU came after a wave of big exchanges like Binance announced restrictions for Russian users. The majority of these restrictions came in the first two months after Russian President Vladimir Putin announced “special military operations” in Ukraine on February 24.