Connect with us
Active Currencies 13003
Market Cap $2,441,228,172,110.00
Bitcoin Share 49.68%
24h Market Cap Change $0.15

This crypto wallet provider will suspend Russian accounts by Oct. end

2min Read

Share this article

Crypto wallet provider has become the latest company to halt its services for Russian nationals following the European Union’s eighth package of sanctions against Russia. 

Account suspension by the end of October

Russia’s RBK Group reported on 14 October that Russian users of have until 27 October to withdraw their funds from the platform.

“ is currently prohibited from providing custodial and rewards services to Russian citizens,” the company said in a statement. is joined by in their Russian account suspension.’s updated Geo-Restrictions list now shows Russia as one of the countries that are not serviced by the platform. 

The latest round of sanctions requires all crypto-asset wallets, accounts, or custody services, irrespective of the amount of the wallet, to be banned for Russia. 

Previously, the sanctions only limited Russian crypto payments that exceeded more than €10,0000.

Additionally, the scope of the latest sanctions has been widened and it now extends to IT consultancy, legal advisory, architecture, and engineering services as well.

Increasing pressure on firms to comply

Earlier this week, Canada-based NFT marketplace Dapper Labs suspended accounts with connections to Russia. This included all purchases, sales, withdrawals, or gifting across the platform. 

Other exchanges like Binance and Coinbase have not yet made any announcements regarding a ban on Russian accounts, although online sentiment indicates that action similar to that of may be announced soon. 

Taking cognizance of the imminent threat that the sanctions pose to its financial system, Russia has ramped up its crypto-related operations in a bid to circumvent the restrictions imposed by the west. 

Last month, Anatoly Aksakov, Head of the Financial Committee in Russia’s lower house of parliament, emphasized the importance of a digital rouble and the role it will play in evading sanctions.


Saman is a News Editor at AMBCrypto. Her background in History and English expanded on her knack for editing and presenting all sides of a story without bias. With a strong will to learn, Saman is always up for exploring unknown territory, and crypto, with its ever-changing landscape, offers just that.
Read the best crypto stories of the day in less than 5 minutes
Subscribe to get it daily in your inbox.
Please check the format of your first name and/or email address.

Thank you for subscribing to Unhashed.