Binance to restrict access to users from Russia

Binance, the world’s largest cryptocurrency exchange platform, has imposed new restrictions on Russia in compliance with the fifth package of EU sanctions against the country. Starting April 25, all crypto accounts worth more than 10,000 euros will be blocked.

  • Binance will only allow users to withdraw their current funds from accounts. Other transactions, such as trading or depositing assets, will not be available. This applies to all assets kept in Earn Wallet.
  • Accounts of Russian citizens, individuals, and legal entities residing or registered in the Russian Federation are subjects to the restrictions.
  • At the same time, Binance continues to operate in Russia and has no plans to cease operations there. Russian users will be able to create new accounts and perform all transactions if their balance does not exceed 10,000 euros.

“The complete withdrawal of operations is not in the plant at the moment. As previously reported, we continue to monitor the political situation and state that if the international community further expands sanctions, we will also impose them,”

says the message, Binance sent to its users, published by Igor Pertsia on Facebook.

Earlier, AIN.Capital reported on Binance General Manager in Ukraine appointment — here. You can also read our interview with Binance’s CEO and Founder Changpeng Zhao about Ukraine.