Crypto exchange stops operations for Russian residents, a global crypto exchange, has halted its operations for residents of the Russian Federation.

The announcement from Tuesday comes after had already stopped opening new accounts for clients from Russia. These moves come as a response to the Russian invasion of Ukraine.

Vitaly Kedyk, CEO Ukraine, commented:

The Russian invasion of Ukraine brought violence and disorder to the people of Ukraine. We condemn the Russian aggression in the strongest possible terms.

We stand with Ukraine and everyone who denounces this terrible war. In these circumstances we can no longer continue to serve our clients from Russia.

The company further explained that clients of other countries and regions will not be impacted by the decision.

The Russian invasion of Ukraine was followed by a barrage of sanctions from western countries and the exit of foreign companies form Russia.

Several financial services companies, like Goldman Sachs and payment firms Visa, Mastercard, American Express and PayPal, have pulled out of Russia and its European ally Belarus.

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