Is Binance opening up to Russia again?
Defi and Exchanges

Is Binance opening up to Russia again?

The crypto trading platform Binance has lifted some restrictions for Russian users. However, there has been little communication from the platform about this.

After imposing some restrictions in April 2022 for Russian users, crypto exchange Binance has just lifted some limits such as the €10,000 limit it had imposed on Russian accounts.

Indeed, just a year ago, Binance complied with European sanctions against Russia, and imposed restrictions on the country’s citizens, like many other platforms.

The Forklog site reports that Binance has also restored support for Russian bank card transactions, including Visa and Mastercard credit cards.

The platform’s technical support also reportedly confirmed this to users in the country:

No restrictions on accounts, you can make a deposit without worrying about the limit of funds.

Russian users who can therefore again deposit Russian rubles, euros, pounds sterling and other currencies from bank cards issued in Russia that are still blocked in many countries, in retaliation for the invasion of Ukraine by the Russian army.

The crypto exchange has not yet communicated publicly about these lifts of restrictions on Russian users.

Binance’s CEO recently stated that his company respects the sanctions in place within the European Union but that some of its legal entities outside the EU may be able to accept Russian citizens.

Article written by:

Laeti Marison, also known as SatoshiBelle, is a multifaceted professional with a passion for community management, content creation, and digital marketing. With a diverse background in various roles, Laeti has consistently demonstrated her expertise and dedication in the field. Recognizing her potential, Laeti then took on the responsibilities of a Project and Community Manager at Magna Numeris and Cartam from November 2018 to March 2021. In this role, she showcased her ability to successfully lead projects and foster strong relationships within the community. Currently, Laeti serves as an SEO content writer, Digital Marketing Manager, and co-founder at magazine, starting from February 2022 till now. Through her expertise in digital marketing and her passion for the crypto industry, she has contributed to the success of the magazine, ensuring its content remains relevant, engaging, and informative.

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