Bitcoin News and Finance Crypto Exchange With Belarusian Roots Halts Operations for Russian Users Skip to main content

Crypto Exchange With Belarusian Roots Halts Operations for Russian Users

Crypto Exchange With Belarusian Roots Halts Operations for Russian Users

Currency.com, a crypto exchange founded and initially licensed in Belarus, has suspended operations for Russian clients. The restrictive measure comes in response to Russia’s assault on Ukraine, the platform said, noting that customers in other jurisdictions will not be affected.

Currency.com Exchange Denounces ‘Terrible War’ in Ukraine, Denies Services to Russian Traders

Crypto trading platform Currency.com has announced its decision to halt operations for residents of the Russian Federation over Moscow’s military aggression against neighboring Ukraine. The move comes after, earlier, the Belarus-born exchange stopped opening new accounts for Russian users.

In a statement released by the platform late Tuesday, the chief executive of the company’s Ukrainian division, Vitaly Kedyk, said that the Russian invasion has brought violence and disorder to the people of Ukraine and added:

We condemn the Russian aggression in the strongest possible terms. We stand with Ukraine and everyone who denounces this terrible war. In these circumstances, we can no longer continue to serve our clients from Russia.

Customers from other countries and regions will not be impacted by the decision. Currency.com emphasized it will continue to provide services to its global client base through its international network. The exchange maintains offices in New York, London, Gibraltar, Vilnius, and Warsaw.

Currency.com, founded by Belarusian tech entrepreneur Viktor Prokopenya, was initially based and licensed in Belarus, a close political, economic, and military ally of Russia. According to information on its website, Currency Com Bel LLC is a legal entity registered in Minsk in 2018.

The company is a resident of the Belarus High Technologies Park (HTP) and a token platform operator authorized under President Alexander Lukashenko’s Decree “On the development of the digital economy,” which legalized crypto business activities four years ago. Its Gibraltar-registered merchant company, Currency Com Limited, is a licensed money services business in Canada and the U.S.

In late February, right after Russian forces crossed the Ukrainian border, representatives of Currency.com were quoted by the crypto news edition of the Russian business portal RBC as stating that the exchange does not plan to ban Russian users.

Since the beginning of the hostilities, Currency.com has donated over $1 million toward humanitarian initiatives in Ukraine. The funds are used by government institutions and volunteer organizations helping Ukrainians displaced by the conflict with food, shelter, and medical care.

Do you expect other cryptocurrency platforms operating in Eastern Europe to introduce similar restrictions for Russian users? Tell us in the comments section below.

Comments

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Blogarama - Blog Directory