Several cryptocurrency exchanges, including Bitcoin.com, LocalBitcoins, and Crypto.com, have reportedly opted to stop serving Russia-based customers after the European Union enacted new sanctions against the country.
New sanctions further restrict Russian crypto access
The value of crypto transfers between EU nations and Russia was previously limited to €10,000, or approximately $9,700. The new sanctions go much further, essentially banning the provision of crypto-asset wallet services to Russian citizens.
The exchanges will begin blocking Russian customers this month
The Russian media reported that Bitcoin.com gave Russia-based customers until October 27th to remove their assets. Bitcoin.com will block access to customer accounts after the deadline.
In response to the new sanctions announced on October 7th, a peer-to-peer crypto exchange, LocalBitcoins, blocked access to its services by Russian residents.