Accounts of users from the Russian Federation, whose total value of crypto assets exceed 10 thousand euros, will be limited.
Binance, which operates the world’s largest crypto exchange with the same name, has restricted access for users from Russia due to international sanctions. It was reported on the Binance website on Thursday, April 21st.
“User accounts from the Russian Federation with a total value of crypto assets in excess of 10,000 euros will be limited. Users will only be able to use the withdrawal function for now. Deposits and trading are limited to these accounts. The limit also applies to all spot, futures and deposit wallets, as well as assets in Binance Staking and Binance Earn products.
It was noted that the accounts of Russians living outside their country, and the accounts of Russian citizens or persons residing in the Russian Federation, whose total value of crypto assets does not exceed 10,000 euros, are will not be affected and will remain active. And those with cryptocurrency balances exceeding 10,000 euros must close all contracts within 90 days, starting today. Opening new positions is prohibited.
It was previously reported that European countries seek to tighten sanctions against Russia and are considering the possibility of imposing sanctions against Russian banks, family members of oligarchs, and are also ready to tighten use of cryptocurrencies to avoid penalties.
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Source: korrespondent
