Binance limits Russians to P2P trades in rubles only
The cryptocurrency exchange Binance has barred Russian citizens from conducting operations through its P2P platform in currencies other than the ruble.
“Choose the local currency for P2P trading. This is required under Binance’s rules for the country you selected during verification,” such a message appears when attempting to buy or sell foreign currency.
Representatives from Binance confirmed the restrictions for customers from Russia.
“Russian users living outside Russia, verified with address confirmation, may continue trading on Binance P2P in all other fiat currencies, except RUB, EUR, USD and UAH,” the company added.
It is not yet clear whether this ban is temporary or permanent.
On 22 August WSJ, citing sources, reported that the U.S. Department of Justice is conducting an investigation into Binance in relation to possible sanctions violations against Russia.
After this, the exchange replaced the card names “Sber” and “Tinkoff” with “green” and “yellow” on the P2P platform. The service later also removed the “alternative” names of Russian banks under U.S. sanctions.
As noted in May, the media reported that the U.S. Department of Justice’s National Security Division in relation to the parent company — Binance Holdings Ltd. — was investigating possible sanctions violations against Russia.
Earlier, ForkLog looked into whether Binance faces secondary sanctions for servicing Russian citizens.
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