Bitfinex Supported and Restricted Countries

What Countries Does Bitfinex Restrict?

Bitfinex restricts users from a total of 16 countries and jurisdictions due to regulatory, financial, and sanction-related constraints. According to the Bitfinex Terms of Service, residents or entities from these regions are prohibited from opening accounts, participating in capital raises, or trading security tokens on the platform.

Countries and jurisdictions where Bitfinex is restricted:

• United States & Canada: Residents are fully restricted due to securities laws that require platforms to register with financial regulators such as the U.S. SEC and Canadian Securities Administrators.
• United Kingdom & Spain: Non-Exempt UK Persons and Spanish Persons are prohibited due to local investment restrictions and financial promotion laws.
• British Virgin Islands: Residents and citizens cannot access Bitfinex Securities as the platform is not authorized to operate under local financial regulations.
• Venezuela: The Government of Venezuela is banned from using Bitfinex services, aligning with international sanctions and restrictions on state entities.
• Austria & Italy: Residents are not allowed to trade or list securities due to regulatory barriers in both countries.
• Sanctioned Countries & Occupied Territories: Users from Iran, North Korea, Cuba, Syria, and five occupied regions of Ukraine (Crimea, Donetsk, Luhansk, Kherson, Zaporizhzhia) are blocked.

Bitfinex may restrict countries or individuals flagged for money laundering, terrorism financing, or regulatory concerns, including those on FATF, OFAC, FinCEN, and other sanctions lists, as well as under relevant Economic Sanctions, Anti-Money Laundering (AML), or Counter-Terrorism Financing (CTF) laws.

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Bitfinex Supported Countries

Bitfinex is available in 180+ countries worldwide, allowing users to trade cryptocurrencies, participate in token offerings, and access advanced financial services. The platform serves a global user base, supporting traders from major financial hubs across Europe, Asia, Oceania, and the Americas.

The exchange facilitates deposits and withdrawals in five fiat currencies, including US Dollar (USD), Euro (EUR), Japanese Yen (JPY), Chinese Yuan (CNH), and Great British Pound (GBP). Users can deposit and withdraw funds via bank wire transfers, credit or debit cards, and several onchain methods.

According to Similarweb, Bitfinex receives under one million visits per month, with its largest user bases in South Korea (23.3%), Australia (8.74%), Russia (7.88%), the United States (7.74%), and Germany (6.8%).

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Is Bitfinex Available in the US?

Bitfinex is not available in the United States due to regulatory restrictions. In August 2017, the exchange announced it would phase out services for U.S. customers over 90 days, citing banking challenges and low revenue from U.S. users.

The decision was driven by U.S. financial regulations, including oversight from the SEC and CFTC. Instead of pursuing compliance, Bitfinex chose to permanently exit the U.S. market, with no current plans to return.

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Bitfinex Country Licenses and Regulations

Bitfinex operates under formal regulatory approvals in Kazakhstan and El Salvador, enabling it to provide tokenized securities and digital asset services. These licenses establish a legal framework for the exchange’s operations, defining where it can issue and trade digital financial instruments, including:

• Kazakhstan: Bitfinex Securities Ltd. is registered under the Astana International Financial Centre (AIFC) Companies Regulations 2017 with identification number 210540900068, allowing it to offer regulated digital asset trading within the AIFC.
• El Salvador: In April 2023, Bitfinex Securities El Salvador obtained a Digital Asset Service Provider (DASP) license from the National Digital Asset Commission, authorizing it to issue and trade tokenized securities.

These regulatory approvals allow Bitfinex to offer products such as tokenized equity, bonds, and other digital securities, while adhering to the financial laws of each country.

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Does Bitfinex Require KYC?

Yes, Bitfinex requires Know Your Customer (KYC) verification for most of its services, with different verification levels offering varying degrees of access. Users can upgrade their verification level to unlock more features, including margin trading, bank transfers, and increased withdrawal limits.

Bitfinex Verification Levels:

• Basic Access: View-only mode with no trading or deposit functionality.
• Basic Plus: Requires photo ID, selfie, phone number, and address; enables crypto deposits/withdrawals, P2P trading, and card payments.
• Intermediate: Adds a second photo ID, proof of address, a financial questionnaire, and a KYC declaration; required for margin trading, lending, and bank transfers.
• Full: Requires a bank statement in addition to all Intermediate-level documents; grants full platform access, including international bank transfers.

Higher verification levels provide faster deposits, expanded trading options, and greater withdrawal limits, making them necessary for users engaging in advanced financial activities on Bitfinex.

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How Was Bitfinex Hacked?

In August 2016, Bitfinex was hacked, resulting in the theft of 119,756 Bitcoins, worth around $72 million at the time. The attacker exploited a vulnerability in Bitfinex’s multi-signature wallet system, which was managed in partnership with BitGo, allowing unauthorized withdrawals.

The stolen funds were later linked to Ilya Lichtenstein, who was arrested in February 2022 along with his wife, Heather "Razzlekhan" Morgan, for laundering the stolen BTC. In November 2024, Lichtenstein was sentenced to five years in prison, while Morgan received 18 months for her role in moving the funds.

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About Bitfinex

Bitfinex was founded in December 2012 by Raphael Nicolle, an IT technician from Paris, as one of the first professional cryptocurrency trading platforms. Initially launched as a peer-to-peer Bitcoin margin lending exchange, it later expanded to support multiple digital assets and advanced trading features.

The platform introduced derivatives trading, margin funding, and an OTC market, catering to both retail and institutional traders. In 2019, Bitfinex’s parent company, iFinex, issued Unus Sed Leo (LEO) tokens, a utility token designed to reduce trading fees and improve liquidity on the exchange.

Bitfinex charges maker and taker fees based on trading volume, with standard rates of 0.1% for makers and 0.2% for takers, which decrease as 30-day trading volume increases. Holders of LEO tokens receive discounts of up to 25% on taker fees, while derivatives and OTC trades have separate fee structures.

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Final Thoughts

Bitfinex is for users from over 180 countries but remains restricted to 16 regions due to regulatory and financial constraints. Users in the U.S., Canada, the U.K., Spain, and sanctioned territories cannot access the platform, while others may face compliance-based limitations.

The exchange supports fiat deposits, advanced trading features, and tokenized securities under licenses in Kazakhstan and El Salvador, with KYC verification required for full access.