Binance News
- Ukraine Prime Minister asked crypto exchanges to sabotage Russian users.
- Binance CEO Changpeng Zhao said they will not impose a blanket ban on Russian users.
- Earlier, reports said that Russian users were suspended from buying crypto with the Russian ruble.
Cryptocurrency exchanges have initiated a mass ban towards Russian users, and it has garnered plenty of attention. In fact, the Vice Prime Minister of Ukraine asked digital currency exchanges to sabotage even ordinary Russian users.
In a recent interview statement on Bloomberg Television, Wednesday, Binance Founder and Chief Executive Officer Changpeng Zhao said:
The firm won’t place a blanket ban on Russians trading on its cryptocurrency platform. “It’s not our decision to freeze user accounts. Many Russians do not support this war. So I think we should separate the politicians from the normal people.
He added, “We do not make the sanction rules. There are organizations who make those rules. We just follow [the] rules [and] we do exactly what the recommendations are.”
However, on the recent news reported by CoinQuora, some Russian banks are affected by the sanctions. More users are unable to buy crypto and deposit fiat currency in Binance. Users received a warning message telling them that Russian local banks are currently not supported.
Additional information has confirmed that Binance is restricting cards issued by Sberbank. The bank is one of the entities that were earlier sanctioned by western powers, along with other institutions. As a result, Sberbank announced on Wednesday that it was leaving the European Market.
Russian Central Bank Governor Elvira Nabiullina said on Wednesday that the group’s subsidiary banks have faced abnormal cash outflows. Additionally, Nabiullina stated that there were threats to the safety of the bank’s employees and branches.
On the other hand, some users of Tinkoff reported that their cards are unaffected by this service disruption.
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