BloFin Restricted Countries

What Countries Does BloFin Restrict?

BloFin restricts users from specific countries due to international trade and economic sanctions, as stated in Section 3b of its Terms of Use. Residents, individuals accessing from, or those acting on behalf of entities in Restricted Locations are prohibited from using the platform.

Restricted countries include Afghanistan, Bangladesh, China, Crimea, North Korea, Iran, Iraq, India, Canada, Russia, Syria, Singapore, the United States, Venezuela, Yemen, Zimbabwe, and others. Users in these locations cannot register or access BloFin services.

Entities represented on the platform must comply with laws addressing anti-money laundering and counter-terrorism financing, ensuring authorized representatives meet legal requirements.

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BloFin Supported Countries

BloFin operates in 151 countries, providing multilingual services in English, Spanish, French, Turkish, Russian, and Polish. This broad language support ensures accessibility for traders across Europe, Asia, Africa, and Australia.

Users can deposit funds in 30 fiat currencies and access spot and futures trading, making BloFin a versatile platform for global crypto traders.

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BloFin KYC Requirements

BloFin enforces Know Your Customer (KYC) verification to enhance security and comply with regulatory standards. The platform employs a tiered KYC system, where each level unlocks additional features and higher withdrawal limits.

• Level 0 (Basic): Default for new accounts. Users can withdraw up to 20,000 USDT daily and access unlimited futures trading and leverage.
• Level 1 (Personal Information): Requires personal information verification, increasing the daily withdrawal limit to 1,000,000 USDT while maintaining unrestricted futures trading and leverage.
• Level 2 (Address Proof): Requires proof of address. This level raises the daily withdrawal limit to 2,000,000 USDT, with continued unrestricted access to futures trading and leverage.

These KYC tiers ensure a secure and flexible trading experience for users while adhering to global compliance requirements.

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BloFin Licenses

BloFin, headquartered in the Cayman Islands, adheres to regulatory standards to ensure compliance and transparency. However, its website and documentation lack clear details on licensing beyond specific jurisdictions.

• South Korea: Recognized as a member of Korean Verify VASP.
• United States: Holds a federal Money Services Business (MSB) license issued by FinCEN (last four digits: 0143).

BloFin has also applied for licenses in Australia, Singapore, Canada, Switzerland, and other jurisdictions, reinforcing its commitment to regulatory compliance worldwide.

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About BloFin

BloFin, founded in 2019, is one of the most popular no-KYC cryptocurrency exchanges, offering advanced features like futures trading with up to 150x leverage, copy trading, and demo trading.

Backed by top investors such as KuCoin Eco Fund, Matrix Partners, and Fenbushi Capital, BloFin has raised $50 million to expand its platform.

With 1:1 proof of reserves, Fireblocks custody, and advanced compliance systems, it combines security and innovation to cater to a global audience of crypto traders.

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Bottom Line

While BloFin officially restricts users from certain countries like the USA and China under its Terms of Use, the lack of KYC means anyone can bypass these restrictions with a VPN. 

Users should weigh the platform’s accessibility against potential compliance risks.