Kazakhstan crypto exchange to work with Russians despite EU sanctions

Cryptocurrency exchanges registered in Kazakhstan continue to serve Russian users. Thus, they are not going to block all accounts belonging to investors from the terrorist country, as other trading platforms have begun to do.

However, Kazakhstani exchanges will be supported by the EU sanctions regime in other areas. For example, the cryptocurrency platform Intebix continues to serve only those Russians who are not on the European and American sanctions lists. Transactions with digital currencies on this platform are available only in conjunction with the national currency of Kazakhstan, the tenge (KZT).

Talgat Dosanov, CEO of the cryptocurrency exchange, emphasized: «Russian citizens who are not on the sanctions lists will be served on Intebix. However, they will need to open an account with a local bank to carry out transactions to convert cryptocurrency into fiat money.»

Yesterday it became known that the cryptocurrency exchange Kraken supported the eighth package of sanctions against the terrorist country — all Russian accounts will be restricted in depositing and trading on the crypto exchange. And last week, the LocalBitcoins project announced that citizens of the aggressor country would no longer be able to use the service. Blockchain.com, cryptocurrency exchanges Coinbase, Crypto.com, and BitMEX, Revolut Bank, Huobi, and cryptocurrency wallet Skrill also stand in solidarity with Ukraine and Europe. Cryptopay payment service has since banned citizens of the terrorist country from withdrawing digital assets from the platform.