The US-based cryptocurrency exchange Bittrex has clarified that it will not do business with residents or citizens of "North Korea, Iran, the Crimean region, Syria, and Cuba," nor with "any person with economic sanctions levied against them specifically by the federal government." The exchange announced the policy in a February 28 post to its website.
The prohibition is not new, according to the update, but a recent revision to the platform's terms of service apparently caused confusion among users. Specifically, a section relating to "Restricted Locations," noted that individuals from certain areas could not use the platform. The company said it published the post specifying which countries and regions are blacklisted in order to clear up any misconceptions.
The latest iteration of the terms also affords Bittrex the discretion to deny service to users in non-blacklisted jurisdictions on the basis of their location.
In the February post, the exchange points out that "the U.S. government periodically updates the lists of prohibited people, regions and countries, and when the federal government makes these changes, it also negates the eligibility of any users who are affected by the list revisions."