Cryptocurrency exchange Bybit limits Russian language There is no intention to introduce traders, despite recent reminders by the Monetary Authority of Singapore (MAS) about crypto provider obligations in that regard. Crypto Media reported that the platform shared its position in its interactions with partners.
Bybit reportedly pledges not to “discriminate cryptocurrency users on the basis of location and passport”
Singapore-based cryptocurrency Exchange Bybit does not restrict users from the Russian Federation. The state’s central bank reiterated this week that licensed coin trading platforms must comply with sanctions imposed over Moscow’s ongoing aggression against Ukraine.
In response to numerous inquiries and publications claiming that measures introduced by Singapore would render Bybit unavailable in Russia, noting that the exchange is headquartered and registered in Dubai, We emphasized:
We have stated several times that we do not discriminate against cryptocurrency users based on location and passport.
The restrictions may only affect clients in jurisdictions that do not allow futures trading without a license, such as in the United States, Singapore and China, Bybit said. Stated. A source at Getblock Magazine made a comment in a message to partners shared and quoted by other Russian-language crypto news his outlet.
According to the report, Bybit further stated that its team is doing everything possible to provide all users with equal access to the platform, and their Your funds are safe and the best trading experience.
On Monday, MAS also cited a study conducted by blockchain forensics firms Chainalysis and TRM that pro-Russian groups used digital asset exchanges to raise millions of dollars in cryptocurrency donations. said it was supporting Russia’s military operations in Ukraine. Lab.
Founded in 2018, Bybit currently offers nearly 200 currency pairs, with a daily trading volume of over $900 million and over 1.6 million users. , points out the report. The platform is not the only global exchange that has had to deal with the topic of Russian sanctions.
Cryptocurrency platform defines stance on Russian sanctions
Regarding compliance with EU regulations, which noted the lack of Previously, only “high value” cryptocurrency services were banned for Russian residents and companies, but the EU’s eighth package of sanctions now requires European companies to ban all crypto wallets, accounts, or custody services. was prohibited from providing to Russians.
At a press conference in Lisbon this week, Binance CEO Changpeng Zhao described the situation surrounding European sanctions as “tricky.” Responding to Coindesk’s question asking whether the exchange would follow the decisions of other crypto companies and restrict Russian accounts, CZ admitted he had no definitive answer. said it is licensed in various jurisdictions and must comply with those regulations, but emphasized that the company is not against anyone.
10 In mid-March, established cryptocurrency platforms such as Localbitcoins, Blockchain.com and Crypto.com will launch their services for Russians in compliance with the latest EU requirements, as previously done by NFT platform Dapper Labs. started pausing. US-based cryptocurrency exchange Kraken has since introduced restrictions, banning new registrations on its platform from the Russian Federation.
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