19:00 GMT18 June 2021
Listen Live
    Get short URL

    Though initially there were concerns that Russian Bitcoin enthusiasts would be barred from trading on Bittrex in the foreseeable future, the most recent report on the subject seem to have slightly eased on this speculation.

    The new rules published last month and expected to come into force from March 9, will ban "citizen[s] or resident[s] of any state, country, territory or other jurisdiction that is embargoed by the United States" from accessing Las Vegas-based Bittrex platform and accessing its trading services.

    The new terms reportedly raised much concern with Russian traders who increasingly voiced fears that the US-imposed sanctions following the Crimean crisis in 2014 would render it impossible for them to exploit the Bittrex platform.

    Some users presumably received a confirmation, that the new terms would not apply to those under "economic sanctions."

    READ MORE: Bitcoin Whales May Rock Cryptocurrency 'World'

    With Iran the situation is a bit more complicated.

    There were reports back in 2017 that Bittrex had started closing Iranian accounts without prior notification. Yasser Ahmadi of Lioncomputer.ir complained thereafter, as reported by news.bitcoin.com, that the exchange’s technical service had failed to address the issue and Iranians were thus refused the opportunity of repatriating the funds from their accounts.

    The newly announced list of restrictions is viewed upon in Iran as last year’s crackdown being eventually formalized and put on paper.

    Ahmadi linked the problem to a reported rise of US imperial ambitions, oriented, as he put it, at a more profound monitoring of the cryptocurrency industry in pursuit of the US' own political interests.

    "That is not what bitcoin and blockchain is about, it’s against the spirit of this system," he sorrowfully added.


    Crypto-Banking on the Rise: Liechtenstein Bank Allows for Bitcoin Investments
    'Grand Theft': 600 Powerful Bitcoin-Mining Computers Stolen in Iceland
    Cryptostate: North Korea Made, Stole Hundreds of Millions in Bitcoin in 2017
    Bank of England Calls for Regulation of Bitcoin and Other Cryptocurrencies
    Period of Growing Up: Bitcoin in Transition – Internet Ombudsman
    digital currency, business, new rules, ban, cryptocurrency exchange, cryptocurrency, Bitcoin, Bittrex, Cuba, Crimea, Iran, Democratic Republic of North Korea (DPRK)
    Community standardsDiscussion