BitMEX to Block EU Users After July 11, 2022

BitMEX, a major cryptocurrency exchange, is taking steps to ensure compliance with European sanctions against Russia by preparing to enforce major restrictions on its Russian customers.

Cointelegraph has learned that in order to comply with the European Union's restrictive measures, BitMEX is changing its restricted jurisdictions policy.

On July 4, the BitMEX crypto exchange notified a group of people who could be affected by the upcoming changes by email.

According to an email seen by Cointelegraph, Russian citizens or residents will no longer be able to access BitMEX services from the EU after July 11, 2022. That means that such users will not be able to log into their account or access any services from the EU, unless an “exception applies.”

The new limitations do not affect Russian citizens or residents who access BitMEX services from the EU, as they are also residents in the EU or Switzerland. Nor will it apply to dual citizens of the EU or Switzerland who reside outside Russia, according to the email.

"If you are a resident in the EU or Switzerland or a dual citizen of the EU or Switzerland and reside outside Russia, you can submit additional information to apply for an exemption and continue to access our Services from the EU," the statement said.

The directive applies to all traders, regardless of whether they are acting on behalf of a legal entity or not, and regardless of whether they are based in the EU or Russia.

There is no indication that Russian customers will be affected by the exchange's decision to block IP addresses from Iran. 

After Binance and other major exchanges announced restrictions for Russian users, BitMEX's latest ban against Russians in the EU came a while later. The majority of such bans occurred in the first two months after Russian President Vladimir Putin announced a "special military operation" in Ukraine on Feb. 24.