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Binance has taken restrictive measures for Russian citizens with large crypto assets

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Binance has taken restrictive measures for Russian citizens with large crypto assets

MOSCOW, April 21 – PRIME. Binance, one of the largest cryptocurrency exchange platforms, is introducing restrictions for Russians whose crypto asset balances exceed 10,000 euros: now they are only allowed to withdraw funds, according to a message on the Binance website.

“The crypto exchange is taking restrictive measures for all deposits to the accounts of Russians or individuals who live in Russia, or organizations registered in Russia, in the amount of more than 10 thousand euros. Subject to the restrictions that comply, individuals must close any contracts within 90 days, and not open new positions,” the statement said.

As a spokesman for the Binance cryptocurrency exchange told the media, the restriction “takes effect immediately.”

Account users that fall under this restriction will only have access to the withdrawal feature. Depositing and trading options will be limited on these profiles. The limit also applies to all spot, futures, and deposit wallets, as well as assets in the Binance Staking and Binance Earn products.

Binance is a leading global blockchain ecosystem and provider of crypto-currency infrastructure facilities with a range of monetary goods including ?? the world’s largest digital asset exchange.

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