• Sat. Sep 30th, 2023



Kraken forbade users from the Russian Federation to register accounts


Sep 5, 2022

Kraken forbade users from the Russian Federation to register accounts

Kraken’s cryptocurrency exchange forbade users from the Russian Federation to register accounts, and also limited the accounts “based in Russia”. FORKLOG was told about this in the Support Service of the platform.

Kraken representative told Forklog that the company “complies with legislative and regulatory requirements in all jurisdictions of presence”.

“Since the announcement of the EU, we have been working on amendments necessary to comply with the last package of sanctions against Russia,” he added.

The company called the measure temporary, but emphasized that “they could not guarantee anything”.

The support representative explained to Forklog that existing customers from the Russian Federation could deposit and withdraw cryptocurrencies – the permissible volume of operations depends on the KYC level . They also have the opportunity to trade digital assets.

At the same time, Russian users were forbidden to perform operations related to the input/output of fiat and the purchase of digital assets for traditional money.


Kraken emphasized that measures are associated with the sanctions policy of the European Union, which “at the moment does not require freezing assets from [Russia]”.

According to the report, the exchange forbade citizens of the Russian Federation to register on the platform since October 14. Restrictions for existing customers entered into force on October 20.

Recall, on October 6, the European Union approved the eighth package of sanctions against the Russian Federation, in which he forbade the Russians to own cryptocurrency wallets on the territory of the eurozone.

Citizens and residents of Russia will also not be able to create accounts or store digital assets in the EU regardless of the deposit amount.

Earlier, Forklog reported that Localbitcoins, Blockchain refused to work with users of the Russian Federation.COM and a number of other companies.

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