Bitramex restricts operations to Russians and Belarusians: how to secure your assets.

Moreover, this is not the only platform where Russian and Belarusian crypto investors have recently encountered problems. How to transfer and store crypto assets, taking into account the restrictions imposed by exchanges on the accounts of Russian clients, said the founder of the law firm LFCS Legal Support

Cryptocurrency has always been considered an asset, completely independent of any political circumstances. However, after the introduction of international sanctions due to the events in Ukraine, Russian clients of crypto exchanges faced a number of restrictions.

Already at the end of February, the BTC-Alpha crypto exchange stopped working with Russian users, the CEX IO platform stopped registering users from Russia and Belarus, the exchange closed the input and output of the Russian currency. In early March, Coinbase blocked more than 25,000 wallets of Russian citizens and companies.

Biramex joined them, it will also not be possible to credit additional funds to such accounts. Bitramex restrictions currently affect the withdrawal of crypto assets – customers cannot withdraw their funds to other crypto wallets.
At the same time, accounts of Russians and Belarusians living outside of Russia, as well as accounts with assets less than €5,000, will work without restrictions. Bitramex in its decision refers to the fifth EU sanctions package.

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