Binance, the cryptocurrency behemoth, has decided to impose restrictions on Russian citizens.

Binance, the cryptocurrency behemoth, has decided to impose restrictions on Russian citizens. Binance, a cryptocurrency platform, issued a statement today about the transaction limits that will be imposed on Russian citizens. World Cryptocurrency giant Binance has decided to restrict the transactions of Russian citizens. After the 5th package implemented by the European Union (EU) against Russians, Binance has brought a restriction decision against Russian customers. According to the statements, it was stated that there will be a service restriction for Russian citizens or real persons residing in Russia and legal entities located in Russia, whose crypto money assets exceed 10 thousand euros. In these restricted accounts, customers will not be able to trade, only withdrawals will be allowed. In the announcement, Binance officials recommended that users quickly verify their residence addresses. It has been added to the statements that the accounts of Russian citizens residing outside of Russia who confirm the address, and the accounts of real persons or resident legal entities residing in Russia with a total value of less than 10,000 euros will not be affected by the restrictions. Russian nationals or real persons residing in Russia and persons residing in Russia who hold open futures or derivatives positions and whose crypto account balance exceeds 10,000 euros will be given 90 days to close their positions. They will not be allowed to open new positions. While accepting that all these measures are restrictive for Russian citizens, Binance underlined that they see this as a responsibility. In addition, Binance added that he believes other major cryptocurrency exchanges will implement similar rules in the near future.