Cryptocurrency derivatives exchange Deribit is closing its operations in Russia to comply with European Union sanctions. Russian users were informed of the changes and will have limited transactions starting from February 17 and their accounts will be closed on March 29. However, Russian nationals living permanently in the European Economic Area and Switzerland will still have access to Deribit's services. Deribit had previously moved from the Netherlands to Panama and then to Dubai to avoid regulations. The move coincides with Russia's increasing interest in cryptocurrencies, as it considers implementing crypto on- and offramps and potentially legalizing crypto exchanges.



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