- Some Russian bank clients reported they are unable to buy crypto and deposit fiat.
- The users received warning messages telling them that such service is currently unavailable.
- Earlier reports have claimed that Binance has issued to block Russian users targeted by sanctions.
Customers of some Russian banks that were affected by the sanctions reported that they are unable to buy crypto or even deposit fiat currency on Binance.
After the US expanded its sanctions against Russia, cutting loose US transactions with the central bank, multiple institutions followed suit. A recent one is SWIFT, which reported that it is waiting to see which banks authorities want to disconnect from its global financial services.
Now, some Russian users who are trying to buy digital assets or deposit fiat money on crypto exchange Binance claimed to received warning messages, telling them that Russian local banks are currently not supported.
The message says, “Please be informed. We currently do not support the bank cards issued in your country.” But clients are assured that the exchange platform is “working on making this a possibility as soon as we can.”
Moreover, the official channels of Binance Russia such as its Telegram and Twitter account have not yet posted any updates regarding this matter. However, reports say that the Binance Telegram administrators are claiming that “Binance is operating normally” as of now.
In addition, a source who has reached out to Binance Russia reported that the exchange explained that “it must be some kind of error.” The exchange added that “nobody blocked anything,” and they would be informing their clients if such changes occur.
Some reports have confirmed that Binance is rejecting cards issued by Sberbank. Sberbank is one of the entities that were earlier sanctioned by western powers, along with other institutions.
On the other hand, some users of Tinkoff reported that their cards are unaffected by this service disruption.
On the contrary, a Reuters report claimed that Binance is blocking the accounts of any Russian patrons that are targeted by sanctions.
A Binance spokesperson stated that they are “blocking accounts of those on the sanctions list (if they have Binance accounts) and ensuring that all sanctions are met in full.” They declined to get into detail but clarified that Binance will not freeze the accounts of others even after Ukraine has requested to block Russian users of major crypto platforms.
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