(MENAFN- Trend News Agency)
Cryptocurrency exchange Binance will restrict access to services
for Russians and users who live in Russia with crypto assets worth
more than 10,000 euro, the company said on its website, Trend reports with reference
to TASS .
'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,' the statement said.
According to the exchange, accounts that classify under this
restriction will be put into withdrawal-only mode, and no deposits
or trading will be permitted on these accounts.
'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,' the statement said.
Binance does not plan to stop working in Russia yet. However, it
monitors the possible expansion of sanctions and does not rule out
tougher measures.
Tags:
MENAFN21042022000187011040ID1104069815
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.