Binance Reportedly Lifts €10,000 Limit on Russian Accounts

Binance has reportedly lifted the €10,000 limit it placed on Russian accounts in 2022, according to a report by local media outlet RBC. The technical support team of the crypto exchange confirmed that Russian users can now deposit beyond €10,000 on the platform and use them for trading. However, Binance Russian users are still restricted from peer-to-peer transactions in U.S. dollars and Euros, a blanket ban for all residents of Russia. Binance had imposed the restriction in April 2022, citing the EU's fifth package restrictions on Russia for its decision. The country's posture towards crypto remains unclear, as President Vladimir Putin signed a law banning local crypto payments.

(By Oluwapelumi Adejumo)

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