Another cryptocurrency platform starts blocking Russians

Cryptocurrency lender Nexo has started blocking accounts of users who provided Russian documents during verification, according to a letter to customers who have been subject to restrictions.

In a letter to users, Nexo representatives claim that the reason for the account blocking was the eighth package of sanctions imposed by the European Union (EU).

In early October, cryptocurrency wallets of Russian citizens and residents were banned in the EU. Previously, the ban applied only to those Russians who held more than € 10,000 in cryptocurrency assets, but now it applies to absolutely all Russian citizens.

The restrictions apply not only to wallets but also to accounts on cryptocurrency exchanges. Blockchain.com, LocalBitcoins, Dapper Labs, and Kraken have previously announced restrictions for the occupiers. Coinbase, Crypto.com, and BitMEX have also declared their readiness to support the sanctions.