Binance Put A Limit On Transactions In Russia

Binance put a limit on its transactions in Russia. Deposits and trading to users in Russia will be restricted.

According to the latest information obtained; After the 5th sanction move by the European Union against Russia, the cryptocurrency exchange Binance is preparing to limit the services it provides to its citizens in Russia. Crypto exchange Binance is preparing to restrict services to Russian citizens or institutions holding more than 10,000 euros in crypto assets. The exchange will move accounts covered by this restriction to withdrawal only status. To elaborate, accounts exceeding 10,000 Euros will not be able to deposit or trade, and those with futures will be given 90 days to close their positions. Earlier in the month, the EU imposed a ban on valuable crypto transactions against Russia. Binance CEO Changpeng Zhao said: “While these measures are potentially restrictive for regular Russian citizens, Binance should continue to lead the industry in enforcing these sanctions. We believe all other major exchanges should follow the same rules soon.” Finally, in early April, Binance imposed sanctions on crypto wallets and banks to prevent Russians from moving money abroad.