News View Non-AMP

Deribit Bans Russian Crypto Users to Comply with EU Sanctions

Published by
Nidhi Kolhapur

Crypto exchange Deribit is making a big move – it’s cutting off access to Russian users. The reason? Strict European Union (EU) sanctions that the Dutch-owned platform must follow. This means Russian nationals and residents can no longer trade on Deribit, unless they meet specific exceptions.

But what does this mean for affected traders? Who can still access the platform, and what happens to existing accounts? Here’s everything you need to know.

“Due to EU sanctions against Russia, Deribit is no longer able to accept Russian nationals and Russian residents as its clients, unless an exception applies. Since Deribit’s parent company is Dutch, these EU sanctions are relevant to us,” the crypto exchange noted.

Who Can Still Use Deribit?

Deribit has placed strict restrictions on Russian users, but some exceptions apply:

  • Russian nationals who also have citizenship in an EEA (European Economic Area) member country or Switzerland.
  • Russian nationals with permanent residency in an EEA country or Switzerland.

For example, a Russian citizen living in Ireland or holding Danish nationality can still use Deribit. However, Russians living in the UAE remain banned. Additionally, Russian companies are not eligible for exceptions and cannot use the platform.

Russian Accounts Enter “Reduce-Only Mode”

In an email to clients, Deribit outlined a timeline for affected accounts:

  • February 17, 2025 – Russian accounts will be placed in “reduce-only mode,” meaning users can only close existing positions but not open new ones.
  • March 29, 2025 – All open positions will be closed automatically.
  • Withdrawals Unaffected – Users can still withdraw their funds without restrictions.

Why Did Deribit Move to Panama?

Founded in the Netherlands in 2016, Deribit relocated to Panama after the EU introduced stricter anti-money laundering (AML) rules in 2020. These new regulations made compliance more complex and expensive for crypto platforms.

Deribit has stated that it supports open access to crypto markets but found the EU’s regulations too restrictive. As a result, it moved to a more favorable regulatory environment.

Nidhi Kolhapur

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

Recent Posts

Bonk Price Soars: Can It Rise 35% More To Hit $0.000029

The Bonk price has surged recently which seems like it is fueled by increased excitement…

July 7, 2025

Livepeer Price Prediction 2025, 2026 – 2030: Will LPT Price Hit $50?

Story Highlights The price of the Livepeer token is . The LPT price could hit…

July 7, 2025

Why Is BONK’s Price Surging?

BONK, the leading dog-themed memecoin on Solana, has surged 58% over the past week, and…

July 7, 2025

Ripple’s Secret Ties to U.S. Intelligence? Hidden Links Revealed

Ripple has always been surrounded by secrets and strong opinions, but a new claim by…

July 7, 2025

Institutional Interest Could Fuel Bitcoin, Ethereum, and XRP Growth This Week

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are currently holding firm near pivotal level  which…

July 7, 2025

Best Crypto to Buy Now as Ripple (XRP) Stagnates

As Ripple (XRP) flatlines yet again and fails to break key resistance levels, smart money…

July 7, 2025