Crypto exchange Binance has decided to close the possibility of Russians buying dollars and euros using its P2P service. In this respect writer Forbes cites a message from the exchange representative.
Binance, the world’s largest crypto exchange in terms of trading volume, has banned Russians and Russian residents from buying and selling dollars and euros through its P2P service. The publication noted that the decision was made in accordance with the European Union’s tenth package of restrictive measures against Russia.
According to the publication, the crypto exchange also banned EU citizens from buying and selling rubles using a P2P service. However, you can use other currencies to continue using the service. Russians can still use rubles on the site.
Binance P2P services started to gain popularity among Russians in 2022 as a means of transferring money abroad as SWIFT transfers became more difficult.
February 8 Binance suspended All bank transfers are in USD. It was noted that all other crypto currency trading methods continue to work. Details of the decision were not given.
In April 2022, Binance decided to restrict access to its services to all users living in Russia and holding more than €10,000 in assets.