Exchange Kraken banned the registration of new users from Russia

Exchange Kraken banned the registration of new users from Russia

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by dapp_writer005

4 years ago

According to the new European legislation, Russian citizens cannot register on the Kraken cryptocurrency exchange.

According to the site of this exchange, Kraken works with users all over the world. But there are restrictions that apply in a number of countries due to international regulations, related to finance and cryptocurrencies. Russia is among them. Citizens of the Russian Federation are prohibited from using the Kraken exchange. When creating a new account in Russia, a notification appears: "The Kraken Exchange does not serve users in your region".

Many users from Russia said that they received notifications from the exchange. It says that due to the 5th package of EU sanctions, Kraken is obliged to limit customer service from the Russian Federation. All cryptocurrencies that are on the exchange are allowed to be withdrawn.

At the end of winter, Kraken CEO Jesse Powell stated that blocking the accounts of Russian citizens is not expected, as this is contrary to the laws.

If the platform had the ability to block all customer accounts from countries that provoke violence, then Kraken could freeze the accounts of US customers.Jesse Powell

But Jesse Powell said that if legal demands are made, then Kraken is obliged to restrict access to its site for citizens of the Russian Federation. And the Russians need to prepare for this.

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