Binance Restricted Russian Users
As previously noted, Binance is primarily focusing on restricting access for accounts associated with Russian users.
The information available on their official site mentions that this action is a direct result of the fifth set of sanctions the European Union has enacted against Russia.
Any Binance accounts located within the Russian Federation or held by Russian users outside the country, with total cryptocurrency holdings above €10,000, will be switched to 'withdrawal-only' mode. This means no new deposits or trading activities can occur. This applies to both individual users and organizations.
Those with holdings exceeding €10,000 will have a 90-day window to liquidate their investments.
These measures will remain enforced until further notice. Interestingly, new users residing in Russia can still set up accounts on Binance, provided their crypto holdings do not surpass €10,000.
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