Binance has introduced restrictions for users from Russia


Bitcoin exchange Binance has announced restrictions for accounts of residents of the Russian Federation, where the total value of crypto assets exceeds € 10,000. Only the withdrawal function will be available to them.

The company has no plans to stop providing services in Russia yet. However, Binance noted that they are monitoring the political situation and in case of expansion of international sanctions against the country, they will also be applied.

The announced measures followed the adoption of the fifth package of restrictive EU measures against Russia.

The exchange will provide 90 days for sanctioned users to close futures positions.

The restrictions do not apply to citizens of the Russian Federation living outside of its borders.

In March, the KIA Binance Changpeng Zhao said that the exchange does not intend to block the accounts of Russians outside the sanctions lists.

Recall that the company has stopped supporting transactions with Visa and Mastercard cards issued in the territory of the Russian Federation.