Binance imposes restrictions on Russian users
Bitcoin exchange Binance объявила restrictions for accounts of residents of the Russian Federation, where the total value of crypto assets exceeds €10 000. They will have access only to the withdrawal function.
The company does not currently plan to stop providing services in Russia. However, Binance noted that it is monitoring the political situation and, in the event of an expansion of international sanctions against the country, will apply them as well.
The measures announced followed the adoption of the EU’s fifth sanctions package against Russia.
The exchange will grant sanctioned users 90 days to close futures positions.
The restrictions do not apply to Russian citizens living outside the country and to those ‘verified with proof of address’.
Binance support clarified that access will be restricted even for users abroad who used Russian documents for verification.
In March, Binance CEO Changpeng Zhao stated that the exchange does not intend to block accounts of Russians outside the sanctions lists.
Earlier, the company halted support for card transactions with Visa and Mastercard issued in Russia.
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