Binance Restricted Russian Users
One of the largest crypto exchanges is reportedly restricting Russian users’ accounts.
The official website states the decision has to do with the 5th package of sanctions introduced by European Union against Russia.
All of the Binance accounts registered on the territory of Russian Federation or belonging to Russian nationals abroad, with overall crypto value exceeding €10,000 will be transferred to ‘withdrawal only’ mode, no deposits or trading will be permitted. The restrictions concern both single individuals and entities.
The users with over €10,000 of value will have 90 days to close their positions.
The regulations will stay in effect until further notice. Nonetheless, new users willing to create an account on Binance and live in Russia can do so, in case they do not exceed the amount of €10,000 in their portfolios.
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About The Author
Valeria is a reporter for Metaverse Post. She focuses on fundraises, AI, metaverse, digital fashion, NFTs, and everything web3-related. Valeria has a Master’s degree in Public Communications and is getting her second Major in International Business Management. She dedicates her free time to photography and fashion styling. At the age of 13, Valeria created her first fashion-focused blog, which developed her passion for journalism and style. She is based in northern Italy and often works remotely from different European cities. You can contact her at [email protected]
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Valeria is a reporter for Metaverse Post. She focuses on fundraises, AI, metaverse, digital fashion, NFTs, and everything web3-related. Valeria has a Master’s degree in Public Communications and is getting her second Major in International Business Management. She dedicates her free time to photography and fashion styling. At the age of 13, Valeria created her first fashion-focused blog, which developed her passion for journalism and style. She is based in northern Italy and often works remotely from different European cities. You can contact her at [email protected]
