Belarus-based crypto exchange has halted operations for Russians

In response to Vladimir Putin's war on Ukraine, Currency.com, a cryptocurrency platform founded in Belarus, stated on Wednesday that it will prevent Russian users from using its services.



Because of the platform's decision to restrict new accounts from being registered in Russia, Russian citizens would be unable to use its services, according to Currency.com.


Mykhailo Fedorov, Ukraine's vice prime minister and minister of digital transformation, recommended that "all major cryptocurrency exchanges restrict addresses associated with Russian consumers" in February.


"Freezing not only addresses affiliated with Russian and Belarusian officials, but also addresses related with sabotage of ordinary users," the prime minister tweeted.


According to the company's website, Currency.com, which is based in Gibraltar, with offices in Kyiv, London, and Vilnius, was previously licensed and headquartered in Belarus.


The platform's head of strategy and CEO of Currency.com Ukraine, Vitalii Kedyk, stated,


“We strongly oppose Russia’s aggressiveness… in these conditions, we are unable to continue serving our clients in Russia.”

The platform was first registered in Minsk in September 2018, but has since moved to Gibraltar, according to its website.


Currency.com, on the other hand, is a Belarusian Limited Liability Company that was founded in 2017 in compliance with the country's digital growth regulations.