Bitstamp is Blocking Russian Users Accounts

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A Russian client of crypto exchange Bitstamp has reported that his account was blocked without the possibility of withdrawing funds. He has said on Reddit that the company has taken action “in light of current events in Ukraine and subsequent regulatory directives.”

According to the user, the exchange blocked his account in mid-April. He lost access to functions related to trading, deposits and withdrawals.

There were no statements in the official Bitstamp communication channels regarding restrictions for users from Russia. Nevertheless, it has previously been reported that the exchange is blocking transactions related to sanctioned banks.

Coinbase chief lawyer Paul Grewal has said that the exchange follows regulatory requirements, restricting access only to users from the sanctions lists.