Several Russian users have recently reported
that they were able to access some services of Binance, the largest
crypto exchange by trading volume, despite the restrictions the platform
began imposing last year. The company has yet to make any official statement about the changes on the platform.
- Binance
started applying restrictions on Russian citizens and residents in 2022
following the European Union (EU) and the U.S. on Russia announced
sanctions against Russia due to its invasion of Ukraine.
- As part of the restrictions, the exchange ended support for deposits from Visa and Mastercard cards issued in Russia.
- Earlier
in April, Russian users also said they were able to access crypto
services with their accounts with balances over 10,000 euros despite an
EU sanction prohibiting these accounts from accessing crypto services.
- Recent
reports from Russian users have shown that Binance quietly lifted these
restrictions, though the sanctions are still effective.
- A
Binance spokesperson stated that the platform and its legal entities in
the EU adhere to all current restrictions related to sanctions against
Russian citizens.
- Speaking at the Web Summit in Lisbon in October 2022, Binance CEO Changpeng Zhao (CZ) said some of its legal entities outside of the EU might still be able to serve Russians.
