Exchange Kraken banned the registration of new users from Russia

Exchange Kraken banned the registration of new users from Russia

user avatar

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 All cryptocurrencies that are on the exchange are allowed to be withdrawn.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.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

CMCC Global Introduces Tokenized Fund Strategies

CMCC Global is introducing two fund strategies as tokenized securities through Tether's Hadron infrastructure and Bitfinex Securities under El Salvador's regulations.

user avatarTando Nkube

Senator Blumenthal Investigates Tether's Payments to Consultancy

Senator Blumenthal investigates Tether's payments to consultancy Nxum over potential ethics concerns.

user avatarKofi Adjeman

Blockchain Association Pushes for Crypto Tax Legislation

The Blockchain Association advocates for bipartisan changes to cryptocurrency tax regulations, seeking a de minimis exemption for small transactions and clarity in tax reporting for digital asset users.

user avatarNguyen Van Long

Starknet Community Votes to Explore Independent Post-Quantum Layer 1 Network

The Starknet community is exploring the possibility of transforming into an independent post-quantum secure layer 1 network, with a recent poll showing strong support for research into this initiative.

user avatarSatoshi Nakamura

SoFi Introduces SOFIE Tokenized Deposit for Earning Interest

SoFi has launched a new tokenized deposit product named SOFIE, allowing consumers to earn interest on dollar balances while facilitating blockchain transfers.

user avatarJesper Sørensen

Chainlink and LG CNS Join Forces to Enhance Digital Asset Infrastructure in South Korea

Chainlink and LG CNS have announced a partnership to enhance oracle and crosschain infrastructure for South Korea's financial institutions.

user avatarRajesh Kumar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.