Cryptocurrency exchanges BlockchainComand CryptoComThey will block Russian-owned crypto accounts from their platform.
BlockchainCom and CryptoCom based their restrictions on EU sanctions against Russia. Due to the ongoing war between Ukraine and Russia, a chain of sanctions against Russia in Europe had started. Crypto companies were also included in the sanctions initiated by European countries.
Crypto Ban from BlockchainCom and CryptoCom to Russians
According to The Block’s report, BlockchainCom sent a mass email to users the other day. The crypto company said in a statement that it will now provide limited services to Russian citizens. Russians will be able to use this exchange only to examine the markets. Informed users are given until October 27 to withdraw their custody funds and rewards. From this date, Russian accounts on the BlockchainCom exchange will be blocked.
CryptoCom side also blocked users affected by EU regulations from accessing the application. These sanctions and restriction decisions taken by the two exchanges came to the fore as a product of the crypto sanctions previously initiated by the EU.
Dapper Labs, the founder of the Flow network and NFT manufacturer, also recently joined the sanctions. It is unknown if preventing Russians from accessing cryptocurrencies will harm the crypto ecosystem in the process.
