Binance Quietly Lifts Restrictions on Russian Users

Binance, the world's largest cryptocurrency exchange by trading volume, quietly lifted restrictions on Russian citizens and residents it had imposed over a year ago. In March 2022, after the European Union placed sanctions on Russia in response to its attack on Ukraine, Binance announced it would not support deposits from Visa and Mastercard cards issued in Russia, as well as any Visa and Mastercard deposits made from the Russia.

Now, the restriction seems to be gone: Users can deposit Russian rubles, euros, British pounds and other currencies from bank cards issued in Russia, crypto news website Forklog reported on Saturday.

Earlier in April, Russian users also reported that Binance lifted limits for accounts with balances larger than 10,000 euros for users in Russia. The exchange has not officially released a statement on either of these changes.

A Binance spokesperson did not explicitly confirm or deny the lifting of restrictions, but stated in an email: "All current restrictions related to sanctions against Russian nationals are applied by the platform and its legal entities in the European Union in full."

(Source: CoinDesk)