In a recent development, Deribit Crypto Exchange has announced his exit from Russia for sanctions introduced by the European Union, according to the statement on its website. As a Dutch property platform, Deribit must adhere to EU sanctions. The exchange does not accept Russian nationals or residents as customers, unless exceptions apply.
“Due to EU sanctions against Russia, Deribit is no longer able to accept Russian nationals and Russian residents as clients, unless an exception applies. Since the parent company of Deribit is Dutch, these EU sanctions are relevant to us, ”the crypto exchange noted.
Due to EU sanctions, Deribit has limited access to its platform for Russian nationals. Russian nationals can only use the services of the exchange if they are also citizens of an honor of Eer or Switzerland, or if they have permanent stay in one of these countries.
Deribit limits Russian access: some residents can use platform
For example, Russian nationals who live in Ireland or who are also subjects of Denmark can use Deribit services. However, Russians who live in the VAE may still use the platform. Moreover, the exchange makes no exceptions for Russian companies, which means that they also do not have access to Deribit’s services.
An e-mail from Deribit to customers explains that from 17 February 2025 Russian accounts “only reduce” the mode, which means that traders can only close positions or place new orders that reduce the risk. All open positions will be closed on March 29, 2025, but there will be no restrictions on withdrawing assets.
Deribit was originally founded in the Netherlands and is now located in Panama. This step followed an EU directive of 2020 that required crypto-platforms to identify customers by new rigorous anti-money laundering (AML) rules.
In a statement, Deribit stated that they believe that crypto markets should be accessible to everyone. They found the new regulations imposed by the EU, too restrictive and expensive for many traders. As a result, they chose to move to a more favorable regulatory environment.
