Kraken is the latest cryptocurrency exchange to restrict accounts of Russian users on its platform in compliance with sanctions from the European Union.
On Oct. 19, Kraken sent out email statements to its Russian clients to announce that the exchange is halting services to its Russian customers.
“Due to the new European legislation, we have to take measures to restrict your Kraken account,” the company said. According to an email statement seen by Cointelegraph, Russian users would be able to withdraw their funds by request.
“We will update our support center if there are any changes,” Kraken noted, adding: “We apologize for the inconvenience caused.”
Kraken didn’t specify whether there’s a time limit to withdraw the funds from the exchange for Russian citizens. A spokesperson for Kraken told Cointelegraph that the firm complies with the “legal and regulatory requirements in all jurisdictions” of its operations. “Since the EU’s announcement, we have been working to make the changes...
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