Binance Limits Services to Russian Users

[Flodner]

Binance announced that Following the EU’s fifth package of restrictive measures against Russia, Binance is required to limit services for Russian nationals or natural persons residing in Russia, or legal entities established in Russia, that have crypto assets exceeding the value of 10,000 EUR.

Below is the information from the press release. And if you don't have a Binance account yet - With this special partner link, you can get -20% trading fees. And, of course, an additional -25% if you use BNB


Accounts that classify under this restriction will be put into withdrawal-only mode. No deposits or trading will be permitted on these accounts. The limit also covers all spot, futures, custody wallets, and staked and earned deposits. In addition, all deposits to accounts for Russian nationals or natural persons residing in Russia, or legal entities established in Russia with over 10,000 EUR will be restricted.

Accounts for Russian nationals residing outside Russia, as verified with proof of address, and accounts for Russian nationals or natural persons residing in Russia, or legal entities established in Russia, that remain below a total value of 10,000 EUR, will remain unaffected and active.

Russian nationals or natural persons residing in Russia, or legal entities established in Russia, with open Futures/Derivatives positions, and who have crypto account balances that exceed 10,000 EUR will be given 90 days to close out their positions. No new positions will be allowed to be added.

While these measures are potentially restrictive to normal Russian citizens, Binance must continue to lead the industry in implementing these sanctions. We believe all other major exchanges must follow the same rules soon.

In the past Binance announced Donation of $10M to Ukraine Humanitarian Effort

[KryptoBull]

I don't like this because it shows that the crypto market is also influenced by politics. Binance should limit sanctions to individuals directly involved in this war instead of impacting all Russian users. The Russian people also opposed this war.

[Ghozrd]

Only Satoshi Nakamoto has a good idea for this transaction, this is what he is worried about, there are limits, too many rules and politics seem to have entered the crypto space, while the basis of the idea is to make Bitcoin and Blockchain for P2P transactions, so no one can regulate it like banks and some other regulations from the government, I support every aspect of peace when there is a conflict between ukrainan and Russia, but these restrictions are very detrimental to crypto users, if these restrictions continue then the Binance exchange may be abandoned by investors, because I see Russia will accept oil payments using Bitcoin.

[Alcor]

I don't like this because it shows that the crypto market is also influenced by politics. Binance should limit sanctions to individuals directly involved in this war instead of impacting all Russian users. The Russian people also opposed this war.

I think these restrictions are very weak and too humane. Russian soldiers in Ukraine deliberately shoot at civilians, killing women and children, deliberately destroy houses, schools, hospitals and other civilian infrastructure with tanks and artillery, rob and rape, behave in Ukraine worse than fascist Nazis. Now many settlements in Ukraine are 90 percent or more turned into ruins.
More than 80 percent of Russians now support Putin's actions in Ukraine. Only a few oppose the war. Therefore, the entire population of Russia should be subjected to the most severe sanctions with confiscation of property, and it should be sent to Ukraine to restore what the Russians destroyed in Ukraine.
There is no mechanism, no time to identify and not touch those few who oppose the war in Russia.

[pelana vreo]

Binance exchange should not do that, there is no relation between crypto and war, the existence of limits and double standards like this reflects the political system and is in favor of one government, we also know that many countries commit violence like Israel, but they do not receive any sanctions. is it justified? I don't think that other countries and financial institutions and governments of other countries do not impose sanctions against Israel.

[MrSpasybo]

The Russian people are not supporting and not participating in the war, they should be allowed to continue trading on Binance instead of being banned. Binance should only punish individuals who are involved in means of war and war crimes in Ukraine.

[Astra]

The Russian people are not supporting and not participating in the war, they should be allowed to continue trading on Binance instead of being banned. Binance should only punish individuals who are involved in means of war and war crimes in Ukraine.

More than half of Russians continue to speak out in support of the war in Ukraine. If the Russian people had resolutely opposed the aggression against Ukraine, which has been going on for eight years, then there would be no current global military aggression. Now, peaceful citizens of Ukraine would not be destroyed, Russian soldiers would not rob them, shoot or rape them now, and their homes would not be purposefully destroyed by the occupiers. More than 8,500 residential buildings, hundreds and thousands of schools, hospitals, educational and cultural institutions, and so on have already been destroyed in Ukraine. What Russian soldiers are doing in Ukraine has already been recognized by many countries as genocide of the Ukrainian people.
Against this background, the argument that these restrictions on crypto exchanges are too restrictive of the rights of “innocent” Russians seems cynical and too soft. The sanctions are designed to stop these massacres of Ukrainians, and if the Russian people remain silent like silent cattle, the sanctions should only get stronger.

[pieppiep]

I think the Binance exchange implements a policy like this because of the influence of the ongoing war that makes the binance exchange place special regulations, hopefully this policy does not last long and the war ends soon so that the binance exchange can revoke the regulation.

[Zezari]

Konencho is now a lot of countries are fighting against Russia and want to break off in some actions, in order to at least contain them in something. Everyone goes where the majority go so that they themselves are not covered up since they are alone.

[Senin]

I think the Binance exchange implements a policy like this because of the influence of the ongoing war that makes the binance exchange place special regulations, hopefully this policy does not last long and the war ends soon so that the binance exchange can revoke the regulation.

As long as Binance is located in the United States, as long as it will be under the jurisdiction of its government and follow its instructions. This is a harsh reality from which we cannot escape. Another reality is that the war in Ukraine will continue as long as it is attacked by the Russian occupiers. Despite heavy losses, we do not yet see real prospects for its end. In this case, Europe and other states will be forced to increase sanctions pressure on Russia until it withdraws its troops from Ukraine and compensates for the damage caused to it.

[lepbagong]

all the actions taken will obviously create new problems, some agree but some don't, because indeed the regulations of each country where the exchange is located will always have its own rules but it should not interfere with practical politics which actually harms its own credibility and is not good for the development of crypto itself there will always be favoritism later.

[Noverteno]

I don't like this because it shows that the crypto market is also influenced by politics. Binance should limit sanctions to individuals directly involved in this war instead of impacting all Russian users. The Russian people also opposed this war.

Economics and politics cannot be separated. They are inextricably linked, despite the fact that someone may not like it. Now Russian troops, at the direction of their sole ruler Putin, are bombing and shelling peaceful cities and towns of Ukraine with all types of weapons, deliberately shooting the entire population, including women and children.
Who is to blame? According to the Constitution of Russia, the bearer of power is the people. The people elect the highest officials of the country, including the President, who are accountable to the people and must act within the powers granted to them by law. If officials give criminal instructions to their people and the people, that is, its armed forces carry them out, then in general all Russian citizens are to blame, who failed to organize such a system of power in their country so that this power was controlled by its citizens. Moreover, in Russia there are no mass protests against the war with Ukraine, and in polls, more than half support Putin's actions in relation to the war of conquest in Ukraine. In order to force Russia to stop this war, it is necessary to influence all citizens of Russia, because in Ukraine every day because of the passive behavior of Russians Ukrainians die, their houses, schools, hospitals, and other civilian infrastructure are destroyed. There is simply no other way. All Russians are to blame for the fact that now their fathers, brothers and sons are killing the inhabitants of Ukraine. Therefore, Binance is doing the right thing by blocking some of the Russian accounts with a high transaction volume.

[Alcor]

I think the Binance exchange implements a policy like this because of the influence of the ongoing war that makes the binance exchange place special regulations, hopefully this policy does not last long and the war ends soon so that the binance exchange can revoke the regulation.

This war has been going on for almost half a year and the Russians are massacring Ukrainians in their country every day. Therefore, in order to stop this war and massacres, it is necessary to put more pressure on all Russians without exception, so that they warn for many generations that it is impossible to attack other states. But in Russia, many people support this war of conquest and rejoice when their authorities announce the annexation of part of the lands of other states. Therefore, restrictions for all Russians should be even more stringent.

[Noverteno]

The Russian people are not supporting and not participating in the war, they should be allowed to continue trading on Binance instead of being banned. Binance should only punish individuals who are involved in means of war and war crimes in Ukraine.

More than 200 thousand servicemen of the Russian army invaded the territory of Ukraine, who kill Ukrainians every day. This is not the people of Russia? Maybe these are mercenaries from other countries who were hired by Putin, and the Russian people have nothing to do with it? No, these are fathers, husbands, brothers and sons of "peaceful" Russians who allegedly do not want war and do not participate in it. Mothers and wives urge them to kill more Ukrainians in this war, and these are objective realities, and according to anonymous polls, about 70 percent of the Russian people support Putin's war of conquest in Ukraine. In Russia, only a few come out to protest against this war. Therefore, of course, the entire people of Russia should be held responsible for the murders of Ukrainians and the methodical destruction of their settlements and other civilian infrastructure.

[yohananaomi]

I think the Binance exchange implements a policy like this because of the influence of the ongoing war that makes the binance exchange place special regulations, hopefully this policy does not last long and the war ends soon so that the binance exchange can revoke the regulation.

This war has been going on for almost half a year and the Russians are massacring Ukrainians in their country every day. Therefore, in order to stop this war and massacres, it is necessary to put more pressure on all Russians without exception, so that they warn for many generations that it is impossible to attack other states. But in Russia, many people support this war of conquest and rejoice when their authorities announce the annexation of part of the lands of other states. Therefore, restrictions for all Russians should be even more stringent.

No one in this world who has experienced war, will benefit from it. the situation has often been seen with the facts, it is certain that it will have an impact on the warring parties. especially clear to the civilians who will be directly affected by the war.


whatever action is taken is not justified, all of them must be big-hearted to be able to sit together to solve problems with the best solution. I do not agree that any action taken by a country is retaliated with actions that are too aggressive so that it does not solve the problem at hand.


Violent intervention is retaliated with anything with the aim of taking action to retaliate or suppress, it will only make things worse. maybe binance can take this action as well as european countries, will it be the best solution and not even tougher action? because in the end everything is brought into the realm of politics/trade competition, where there will be those who are looking for opportunities to cloud the atmosphere instead of looking for solutions.


the two leaders should put aside their ego temporarily so that it can be resolved more wisely, because it is clear that war will have a bad impact. no one will profit in this case, all because the ego alone cannot be suppressed to be able to accept the role that wants to reconcile.


#NoWAR #Peace