Exchange Crypto.com asks users from Russia to immediately withdraw funds from accounts – Bits Media

Crypto.com forbade citizens of the Russian Federation to use the services of a company. Registration of users on the platform indicating the Russian phone number from 14 October does not pass.

The site included the Russian Federation on the list
Geographical restrictions for using the Crypto.com application. Bits.media applied to the company for clarifications about the reasons for the blocking and actions of Russian users in the current conditions.

Crypto.com reported, that the introduction of restrictions for users from Russia is associated with new rules, approved by the European Union. therefore, Crypto.com services are no longer available in the Russian Federation, Users will no longer be able to use the company's mobile application for purchase, sales, exchange or receipt of crypto assets, as well as to add fiat currencies to your wallet.

Any outstanding cryptobalance should be immediately displayed to the blockchain address at the user's choice. Also, all the remains in the fiat currency, stored in a wallet, will either be automatically transferred back to the source bank account, or converted into USDC.

Crypto.com -reported representative of the user support service was announced by Bits.Media, that in the near future all customers from Russia will receive official instructions, relating to their assets.

Historically, the Srypto.com exchange was registered in Singapore and the sanctions of the European Union did not apply to it. However, on October 12 it became known, that Crypto.Som opens the European Regional Headquarters in Paris and invests € 150 million in the French office.