Binance restricted access for Russian companies and individuals under sanctions

The Binance cryptocurrency exchange is not going to freeze the accounts of Russian users, as itcontradicts the concept of the cryptocurrency industry,but, having studied the sanctions risks, it decided to restrict access to the platform for Russian companies and individuals from the sanctions lists, a representative of the exchange told Interfax.

“As previously reported, we are not going tounilaterally freeze the accounts of millions of users. To unilaterally ban people from accessing their cryptocurrencies would be against the very purpose of cryptocurrencies. Speaking about the steps taken in relation to individuals and legal entities that were under sanctions, we limited access to the platform to everyone who was on the sanctions list, ”said the representative of the exchange.

In addition, according to a Binance spokesperson, users who are cardholders of sanctioned banks cannot use the cards of these banks on the platform.

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