Binance restricted P2P transactions for Russians in all currencies, except for the ruble
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Crypto exchange Binance from today, August 26, introduced restrictions for Russians to trade in any currency, except for the ruble, through the Binance P2P service (peer-to-peer, “from person to person”). The measure applies to customers who have passed the verification of “Know Your Customer” (Know Your Customer, KYC) in Russia. This is stated in the message of the exchange in its application, which leads Frank Media.
One of the Russians confirmed to the portal that he had lost the possibility of P2P transactions in currencies other than the ruble. A few more people who did not register through the KYC verification of Russia said that they could not make transactions in rubles. Binance has not yet explained what the restrictions are related to.
In April, the crypto exchange canceled the €10,000 limit for Russian accounts, which was set in the spring of 2022 due to sanctions against Russia. At the press office reported “Kommersant” that they still comply with the restrictions against Russia. Same month Binance allowed replenish deposits from Russian cards.
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