Kraken Continues To Be The Next Crypto Exchange Blocking Russian Users

According to Russian-language emails addressed to consumers, Kraken is now banning Russia-linked accounts.

Based on the email’s contents, the scope of the present limitations is unknown at this time. Some individuals stated that their accounts had been terminated but that they could still withdraw cash.

“Due to the new European legislation, we have to take measures to restrict your Kraken account. We will update our support center if there are any changes. We apologize for the inconvenience caused,” the exchange said.

Jesse Powell, Kraken’s former CEO, had indicated that the crypto exchange would not remove Russian accounts unless ordered by law.

Kraken is the most recent cryptocurrency site to limit access to Russian users in accordance with EU restrictions. Last week, Blockchain.com and Crypto.com imposed limits on such accounts, with the latter offering a withdrawal window for customers to withdraw their assets.

Earlier last month, Dapper Labs blocked the NFTs of accounts with links to Russia. Since then, the business has enabled customers to move their NFTs from their custodial wallet to a non-custodial wallet.

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