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Bitcoin exchange Binance has announced restrictions for the accounts of residents of the Russian Federation, where the total value of their crypto assets exceeds 10,000 euros, they will
Bitcoin exchange Binance has announced restrictions for the accounts of residents of the Russian Federation, where the total value of their crypto assets exceeds 10,000 euros, they will only be able to withdraw funds.
The company does not yet plan to cease providing services in Russia. However, Binance noted that they are monitoring the political situation and will apply if international sanctions against the country are extended.
The announced measures follow the adoption of the fifth package of EU restrictive measures against Russia.
The exchange will provide 90 days for sanctioned users to close their futures positions.
The restrictions do not apply to citizens of the Russian Federation who live outside its borders and are “verified with proof of address”.
Binance support has clarified that access will be limited even to users located abroad but using Russian documents for verification.
In March, Binance CEO Changpeng Zhao said that the exchange has no intention of blocking accounts of Russians outside of sanctions lists.
Recall that the company stopped supporting transactions with Visa and Mastercard cards issued on the territory of the Russian Federation.
Source: Fork Log
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