Crypto exchange Binance canceled the €10,000 limit for Russians
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Crypto exchange Binance has removed the €10,000 limit for Russian accounts. The TASS information was confirmed by the platform support service. At the same time, the ban on the sale and purchase of dollars and euros on the P2P platform (direct exchange transactions) for users from Russia remains.
Binance applied restrictions against users from Russia in April 2022 in connection with the fifth package of EU anti-Russian sanctions.
Exchange clients who had a total of more than €10,000 on their wallets were banned from trading assets and replenishing accounts, only the withdrawal option remained available.
Trading in dollars and euros on P2P to Russians was limited by Binance in March 2023. Representatives of the site explained the introduction of the ban by the tenth package of EU sanctions.
After several Russian banks were disconnected from the SWIFT system, crypto exchanges became one of the few ways to transfer funds abroad. Binance’s status as the largest exchange provided some assurance that such transactions were safe.
Read more about Binance’s policy towards Russians in the material “Kommersant FM” “Binance remembered the sanctions”.
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