Crypto derivatives exchange BitMEX has just announced the introduction of a series of restrictions for Russian residents using the platform's services from the EU.
According to the exchange, it is making changes to its policy in connection with sanctions imposed by the European Union.
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These will affect Russian residents, including individuals "trading on behalf of any legal entity accessing EU exchange services," as well as companies located or established in Russia.
After the ban comes into force, Russia citizens will not be able to access the exchange's services from the EU.
The restrictions will not apply to Russian citizens accessing BitMEX from EU countries if they are residents of the EU or Switzerland, have dual citizenship of the EU or Switzerland and live outside Russia.
If the customer falls within these exceptions, they will need to contact BitMEX in order to continue using the platform.
The restrictions will come into effect on July 11 and will affect all such accounts, regardless of the amount of funds in the account.