Binance Lifts Restriction on Russian Users: Deposit of more than 10000 euros now allowed

According to reports, according to circulating screenshots, Binance has lifted the restriction on Russian users to deposit 10000 euros. Russian users can deposit funds exceeding 10000 euros into their balance and conduct transactions. A representative of Binance stated that all current restrictions related to sanctions against Russian citizens fully apply to the platform and its legal entities in the EU. According to the sanctions rules, Binance entities registered in the European Union are prohibited from providing services to Russian citizens, except for those belonging to the European Economic Area or Swiss citizen/resident categories. Users from Crimea, DPR/LPR are also denied access to the platform. In addition, Binance does not provide services to individuals, organizations, entities, and countries that have been blacklisted by the international community.

Insider: Coin An may lift the 10000 euro limit on Russian accounts

Binance, the world’s largest cryptocurrency exchange, has reportedly lifted the restriction on Russian users to deposit more than 10000 euros into their accounts. The news comes after circulating screenshots showed that Russian users were able to deposit funds exceeding the previous limit of 10000 euros.

Binance’s representative confirmed the news

According to a representative of Binance, all current restrictions related to sanctions against Russian citizens fully apply to the platform and its legal entities in the EU. The representative also added that Binance entities registered in the European Union are prohibited from providing services to Russian citizens, except for those belonging to the European Economic Area or Swiss citizen/resident categories.

What are the restrictions on Binance?

The exchange also restricted users from Crimea, DPR/LPR from accessing the platform as per the sanctions rules. Additionally, Binance does not provide services to individuals, organizations, entities, and countries that have been blacklisted by the international community.
Despite the restrictions, Binance remains the largest cryptocurrency exchange in the world. The platform’s decision to lift the limit on Russian users would mean that they can now deposit funds exceeding 10000 euros into their balance and conduct transactions.

How does it affect the Russian users?

The lift on the limitation has come as a relief for many Russian users who were previously restricted on the exchange. With the new change, they can enjoy better flexibility on the platform.

Conclusion

Binance remains a significant player in the cryptocurrency industry, offering users a wide range of services and tools to help them in their trading activities. While restrictions remain in place for some users, the platform’s move to lift the limit on the deposit of more than 10000 euros for Russian users is a welcome development.

FAQs:

Q: Are Russian citizens still restricted from accessing all Binance Services?

As per the sanctions rules, Binance entities registered in the European Union are prohibited from providing services to Russian citizens, except for those belonging to the European Economic Area or Swiss citizen/resident categories.

Q: Are there any other restrictions on Binance platform users?

Binance also restricts users from Crimea, DPR/LPR from accessing the platform as per the sanctions rules. Additionally, Binance does not provide services to individuals, organizations, entities, and countries that have been blacklisted by the international community.

Q: Can Russian users now deposit funds exceeding 10000 euros on Binance’s platform?

Yes, Russian users can now deposit funds exceeding the previous limit of 10000 euros into their accounts and transact on the platform.