Deribit Ditches Russia: EU Sanctions Strike Again! 🚨

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Well, folks, Deribit is giving Russia the ol’ “thanks, but no thanks” after the EU dropped its latest sanctions. Sure, the exchange is chilling in Dubai, but its Dutch parent company is like, “We gotta follow the rules, people!”

Russians are Deribit’s second-biggest fanbase, but let’s be real—there are other exchanges in town. These sanctions might just hurt Deribit more than Russia’s crypto crew. Oopsie. 🤷‍♀️

Deribit’s Russian Exit: The Drama Unfolds

According to TASS (because who doesn’t trust Russian state media?), Deribit is packing its bags and leaving Russia. Thanks, EU sanctions! But wait, there’s a twist: if you’re Russian-born but have an EU passport or permanent residency, you’re golden. Russian companies? Not so much. Tough luck, comrades.

“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,” Deribit said, probably while sipping tea in Amsterdam.

Sanctions are basically Russia’s crypto BFF at this point. Digital assets are all the rage there because, hey, they’re great for dodging sanctions. Even government officials were like, “Yeah, we’re doing this,” at last year’s BRICS Summit. Subtle.

But the US Treasury isn’t stupid. They’re like, “We see you, Russia,” and keep slapping on more sanctions. Deribit was cool with US sanctions, but the EU’s new rules? Game over.

Deribit’s had a rough ride lately. They moved to Dubai in 2023 to escape regulatory headaches, but guess what? Even Russians living in Dubai can’t join the party. Talk about bad timing.

Oh, and let’s not forget last month’s drama: Kraken was eyeing a buyout. Plus, Deribit’s popular in Russia, but it’s not exactly the Beyoncé of crypto exchanges. Meanwhile, Russian users are Deribit’s second-biggest group. So, who’s really losing here? 🤔

In conclusion, these sanctions might hurt Deribit more than Russia’s crypto scene. And if there’s one thing we’ve learned, it’s that decentralized crypto is the ultimate “take that” to international sanctions. DeFi for the win! 🎉

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2025-02-06 23:03