• Home
  • NFT
  • Bitcoin
  • Events
  • Contact
    • Contact
    • Our Journalists
    • About Us
    • Partners
Monday, July 4, 2022
No Result
View All Result
Our Bitcoin News
  • Home
  • NFT
  • Bitcoin
  • Events
  • Contact
    • Contact
    • Our Journalists
    • About Us
    • Partners
  • Home
  • NFT
  • Bitcoin
  • Events
  • Contact
    • Contact
    • Our Journalists
    • About Us
    • Partners
No Result
View All Result
Our Bitcoin News
No Result
View All Result

Binance adds transaction size limit to Russian accounts following fresh sanctions

News
by Gauri Bhatia
22 April 2022
Binance adds transaction size limit to Russian accounts following fresh sanctions

Source: Unsplash

Share on FacebookShare on Twitter

Binance, the world’s largest crypto exchange, has curbed its services in Russia in compliance with the European Union’s (EU) fifth sanctions package against the country.

Per the announcement Thursday, Binance will now restrict its Russian-based users and entities, who have more than 10,000 EUR ($10,900) worth of crypto, from accessing the exchange’s services. Presently, users can withdraw their funds, but cannot trade or deposit using their Binance accounts.

In addition, users who have positions in the futures and derivatives market are required to settle them within 90 days. Also, no new positions are allowed. Currently, user accounts with less than 10,000 EUR will be able to access trading services as usual.

“While these measures are potentially restrictive to normal Russian citizens, Binance must continue to lead the industry in implementing these sanctions. We believe all other major exchanges must follow the same rules soon,” the exchange said in its blog post.

The EU’s fifth sanctions package has targeted Russian-based cryptocurrency wallets as part of its strategy to close any loopholes that Moscow may use to evade sanctions. Ukraine has also called upon cryptocurrency exchanges to put a total ban on their services in Russia, however, to no avail.

I'm asking all major crypto exchanges to block addresses of Russian users.

It's crucial to freeze not only the addresses linked to Russian and Belarusian politicians, but also to sabotage ordinary users.

— Mykhailo Fedorov (@FedorovMykhailo) February 27, 2022

The news also came just days after the US Treasury Department sanctioned Russian crypto mining firm BitRiver and several of its subsidiaries.

 

Previous Post

US extends sanctions to Russian Bitcoin miner BitRiver

Next Post

TRON Founder H.E. Justin Sun Announces the Launch of USDD — A Decentralized Stablecoin

Gauri Bhatia

Gauri Bhatia

Gauri is a full-time Content Writer at Our Bitcoin News. With a degree in Economics, she covers major news and concerns surrounding crypto-space.

Related Posts

New bipartisan bill seeks to make CFTC official cryptocurrency regulator

New bipartisan bill seeks to make CFTC official cryptocurrency regulator

by Gauri Bhatia
29 April 2022

Some US bipartisan lawmakers have submitted a bill that seeks to foster innovation in the cryptocurrency space and build a...

Animoca Brands establishes joint venture with OneFootBall following $300M round

Animoca Brands establishes joint venture with OneFootBall following $300M round

by Gauri Bhatia
29 April 2022

Hong Kong-based Web 3 giant Animoca Brands has now formed a strategic joint venture with OneFootball, Football news and media...

Goldman Sachs issues its first Bitcoin-backed loan: report

Goldman Sachs issues its first Bitcoin-backed loan: report

by Damien Martin
29 April 2022

Goldman Sachs has taken another bullish step towards the digital asset space, now offering Bitcoin-collateralized loans to its customers, media...

No Result
View All Result

Recent Posts

  • Understanding the Tokenomics of ZNT: DeFi protocol Zenith’s official token
  • Huobi Incubator kicks off Web3 Hackathon to foster next generation of Web3 start-ups
  • Huobi Incubator concludes BeWater DevCon 2022 encouraging dialogue amongst developer communities
  • Huobi Global and PrimeEarn provide one of the best experiences and profits
  • Sharknado Co-Creator and Snowpiercer Producer Launch New Token $FLIX to Revolutionize Indie Film
Our Bitcoin News

© 2021 Our Bitcoin News

Navigate

  • Home
  • Press Release
  • Sponsored
  • Our Journalists
  • Advertise
  • Editorial Policy
  • Privacy Policy
  • Terms & Conditions

Follow Us

No Result
View All Result
  • Home
  • NFT
  • Bitcoin
  • Events
  • Contact
    • Contact
    • Our Journalists
    • About Us
    • Partners

© 2021 Our Bitcoin News