Coinspeaker
Binance Imposing New Restrictions for Russians, Might ‘Fully Exit’ Russian Market
Crypto exchange Binance has introduced new restrictions for Russian clients. In particular, the company has barred Russian users from conducting peer-to-peer (P2P) transactions in any fiat currencies other than the Russian ruble. The revised conditions of using Binance services on the Russian market have also included a ban for Russian nationals residing outside the country to access key global currencies, including the euro, the US dollar, and the Turkish lira, for their trades.
Gamers were the first to notice an issue with transactions. They were not able to get Turkish lira to make purchases in Steam, PlayStation, and Xbox game stores.
To be authorized to transact in the Russian ruble, users must meet two key requirements: undergo a complete Russian Know Your Customer verification process and provide verifiable proof of residence within Russia.
Binance made an official announcement on
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