Which Exchanges Do Not Plan to Block the Wallets of Russians

At the end of last week, the European Union adopted the eighth package of sanctions against Russia, one of the points of which is the complete blocking of citizens' crypto wallets. Immediately after the ruling, some cryptocurrency companies, such as Dapper and a number of others, restricted the access of users from Russia to assets. In fact, cryptocurrency and NFT holders can view their balance, but cannot sell, exchange or buy crypto assets and non-fungible tokens. However, not all exchanges are ready to support sanctions and deprive Russians of access to cryptocurrency trading, given that Russia ranks third in the world in terms of the number of crypto holders. So, what exchanges are not going to leave the Russian Federation and share the market with competitors.

Bitget

One of the world's leading and fastest growing crypto exchanges in the CIS does not yet intend to block the wallets of users from Russia. The company announced this back in the spring of this year, after the introduction of one of the sanctions package. Since that time, the exchange has significantly increased its presence in the CIS market and Russia in particular. Bitget now runs several competitions for Russian users, including promotions for P2P merchants, and in September the company eliminated commissions on all spot trading.

Binance

The largest crypto exchange has already imposed sanctions on users from Russia in April this year. Then the restrictions affected users whose balance on the crypto wallet exceeded 10 thousand euros. This decision has already led to an outflow of users, so the company's management did not exactly dare to introduce additional restrictions. Representatives of Binance refuse to make official comments, but the support service assures that the company has not introduced and does not plan to introduce restrictions for Russian users.

Bybit

Another popular exchange among Russians, Bybit, also did not plan to impose restrictions on users. Representatives of the exchange said that they would not ban users' wallets, and the platform would continue to work as usual.

Huobi

Another crypto exchange from the top 5 stated that it would not impose restrictions on users from Russia. However, the major shareholder has decided to sell the Huobi Global business to About Capital Management HK Co., Limited (About Capital). The transaction involves only a change in the controlling shareholder and will not affect Huobi's core operations and business processes. According to a statement from About Capital, after the deal, Huobi Global is implementing a series of initiatives to expand its business and promote the brand in the international arena.

KuCoin

Cryptocurrency exchange KuCoin, which is registered in the Seychelles, said that it does not plan to impose restrictions on users from Russia. The platform is currently operating normally.

In general, cryptocurrency exchanges reacted neutrally to the decision of the European Union and are not ready to comply with the sanctions that were adopted against Russia.