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News

Kraken Continues To Be The Next Crypto Exchange Blocking Russian Users

October 20, 2022 - Around 2 mins mins to read
According to Russian-language emails addressed to consumers, Kraken is now banning Russia-linked accounts.
Kraken Continues To Be The Next Crypto Exchange Blocking Russian Users

Based on the email’s contents, the scope of the present limitations is unknown at this time. Some individuals stated that their accounts had been terminated but that they could still withdraw cash.

“Due to the new European legislation, we have to take measures to restrict your Kraken account. We will update our support center if there are any changes. We apologize for the inconvenience caused,” the exchange said.

Jesse Powell, Kraken’s former CEO, had indicated that the crypto exchange would not remove Russian accounts unless ordered by law.

Kraken Continues To Be The Next Crypto Exchange Blocking Russian Users

Kraken is the most recent cryptocurrency site to limit access to Russian users in accordance with EU restrictions. Last week, Blockchain.com and Crypto.com imposed limits on such accounts, with the latter offering a withdrawal window for customers to withdraw their assets.

Earlier last month, Dapper Labs blocked the NFTs of accounts with links to Russia. Since then, the business has enabled customers to move their NFTs from their custodial wallet to a non-custodial wallet.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

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Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

Kraken Continues To Be The Next Crypto Exchange Blocking Russian Users

According to Russian-language emails addressed to consumers, Kraken is now banning Russia-linked accounts.
Kraken Continues To Be The Next Crypto Exchange Blocking Russian Users

Based on the email’s contents, the scope of the present limitations is unknown at this time. Some individuals stated that their accounts had been terminated but that they could still withdraw cash.

“Due to the new European legislation, we have to take measures to restrict your Kraken account. We will update our support center if there are any changes. We apologize for the inconvenience caused,” the exchange said.

Jesse Powell, Kraken’s former CEO, had indicated that the crypto exchange would not remove Russian accounts unless ordered by law.

Kraken Continues To Be The Next Crypto Exchange Blocking Russian Users

Kraken is the most recent cryptocurrency site to limit access to Russian users in accordance with EU restrictions. Last week, Blockchain.com and Crypto.com imposed limits on such accounts, with the latter offering a withdrawal window for customers to withdraw their assets.

Earlier last month, Dapper Labs blocked the NFTs of accounts with links to Russia. Since then, the business has enabled customers to move their NFTs from their custodial wallet to a non-custodial wallet.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News

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