Crypto exchange Binance curbs services in Russia
The Binance cryptocurrency exchange is deactivating the accounts of its major clients in Russia and is cutting back on its services in the country following the EU’s latest sanctions on Moscow.
Binance has stated that ‘Russian nationals or natural persons residing in Russia, or legal entities established in Russia’ holding crypto worth over 10,000 euros will be restricted from making new deposits or trading. However, affected clients would be able to withdraw funds and would be given 90 days to close their position. Other users’ accounts will remain active.
The changes will not affect non-sanctioned Russians, who can prove that they live outside the country through proof-of-address verification.