Media reports on Bybit’s stance regarding sanctions against Russians

The cryptocurrency exchange Bybit will not impose restrictions on users in Russia. This was told to GetBlock Magazine by an informed source, citing a message to the platform’s partners.

Representatives of Bybit said that they would not “discriminate against users by their location or passport”. Restrictions may affect only cases where the client’s jurisdiction does not allow futures trading without licenses. Such a ban is in effect, for example, in the United States, Singapore and China.

The Singapore-founded Bybit exchange received a license in the UAE in March 2022 and soon moved its headquarters to Dubai.

Earlier, the Monetary Authority of Singapore reminded licensed crypto exchanges of the need to comply with sanctions against Russia.

In October, the EU approved another package of sanctions that included ban on servicing cryptocurrency accounts for Russian citizens and residents, regardless of the amount of the deposit.

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