Binance has banned Russian citizens and people living in Russia, as well as companies located there, with holdings of cryptocurrency worth more than 10,000 euros ($10,900), from making new deposits or trading.
According to Arabiya Net, Binance said that accounts of users linked to Russia who have completed address checks and have crypto assets worth less than 10,000 euros will remain active.
As part of the fifth package of sanctions against Russia, the European Union this month targeted digital wallets used to store, send, receive and spend cryptocurrencies, as part of a broader effort to plug potential loopholes that could allow Russians to move money abroad.
Binance, along with other major US exchanges such as Coinbase Global and Kraken, have rejected calls from Kyiv for a blanket ban on Russian users, after President Vladimir Putin ordered an invasion of Ukraine, what Moscow calls a special operation.
Binance said in March that it would not unilaterally freeze millions of innocent user accounts, but would ensure compliance with the sanctions.
As she indicated last month, card holders of sanctioned Russian banks would not be able to use cards on its platform, and emphasized that individuals in the same category had their access restricted.
