Crypto exchange Binance reported that it complies with all sanctions against Russians
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Representatives of the Binance crypto exchange told Kommersant that the site applies in full all restrictions related to sanctions against Russians. This is how Binance reacted to message that the limit of €10,000 for accounts of Russians, which the platform established in April 2022, was abolished.
“Binance’s compliance team has more than 750 people worldwide, and about half of them are directly involved in sanctions control work such as anti-money laundering, name screening, Know Your Customer (KYC and KYB) adaptation, and network monitoring,” said the representative of the exchange.
Binance recalled that in accordance with the EU sanctions rules against Russia, Binance legal entities that are registered in the EU jurisdiction are prohibited from providing services to Russian citizens and legal entities (with the exception of residents of the EEA or Switzerland). In addition, the exchange limits opportunities for Russians on the P2P platform.
About the rules of Binance related to sanctions – in the material “Kommersant FM” “Binance remembered the sanctions”.
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