Several media outlets, citing Binance’s tech support сообщил about the removal of the €10 000 deposit limit for the accounts of Russian users. The exchange’s representatives gave ForkLog an exclusive comment on the matter.
According to circulating screenshots of the chat, the limits for clients from the Russian Federation were “lifted last week.” Users allegedly can deposit more than €10 000 and carry out operations with those funds.
A Binance spokesperson told ForkLog that all current restrictions related to sanctions against Russian citizens are applied by the platform and its legal entities in the European Union in full.
«In accordance with sanctions rules, Binance, registered as a legal entity in the EU, is prohibited from providing services to citizens of the Russian Federation, with the exception of those who are citizens/residents of the EEA or Switzerland. Users from Crimea, the DNR/LNR are also barred from accessing the platform», — he said.
A Binance spokesperson added that the platform does not provide services to “people, organisations, legal entities and countries that have been blacklisted by the international community”.
Binance did not confirm or deny the authenticity of the published screenshots.
The deposit limits were introduced with the EU’s fifth sanctions package in April 2022. At that time, companies forbade providing crypto-related services to residents of the Russian Federation whose deposits exceed €10 000.
In October of the same year, the European Parliament imposed a full ban on servicing their cryptocurrency wallets within the eurozone.
Earlier, in March 2023, Binance banned Russians from P2P operations in dollars and euros. These restrictions remain in effect.