After Russia invaded Ukraine, many economic sanctions were decided by the USA and the European Union.
Russian citizens after the imposed economic sanctions Bitcoin (BTC) such as cryptocurrencies.
Seeing the trend towards crypto, the EU is within the scope of sanctions. cryptocurrencies took it too.
After this decision, some cryptocurrency exchanges decided to restrict access to Russian users’ accounts.
Popular crypto exchange now after Blockchain.com and Crypto.com Kraken also decided to restrict the accounts of Russian users on its platform.
According to the news of Cointelegraph, Kraken exchange announced yesterday that it has stopped its services to Russian users.
Sending an e-mail to its users for this, Kraken used the following statements:
“Due to new European Union legislation, we have to take measures to restrict your Kraken account.
We will update the information if there are any changes. We apologize for any inconvenience.”
Stating that the restrictions in question are a result of the eighth package of sanctions imposed on Russia by the EU, Kraken did not specify whether there is a time limit for Russian users to withdraw money from the exchange.
The restrictions in question appear as part of the eighth sanctions package announced by the European Union on 6 October.
The EU’s new sanctions package has imposed a general ban on crypto business and payments between European-regulated companies and Russian users.
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