Binance Bans Russians From Trading Euros And US Dollars, And Bans Rubles In P2P

  • Binance ban Russian customers From P2P trading in euros and dollars.
  • EU clients will not be able to trade the ruble peer-to-peer.
  • The restrictions come as the European Union imposes its tenth sanctions package In Russia.

On the first anniversary of Russia’s invasion of Ukraine, Ursula Gertrude von der Leyen, the president of the European Commission, wrote a letter regarding the bloc’s latest sanctions package. The tenth attempt to stop Russia’s illegal attack on neighboring Ukraine appears to be in full swing as crypto platforms are forced to take action.

In the open letter, Ms. Lin also stated: “We now have the toughest sanctions the European Union has ever imposed. We need to make sure they are strictly enforced.” actually, Tougher penalties They have put Russian citizens in a prolonged turmoil, and this time all cryptocurrency exchanges serving the country apply to them.

Anonymous praised Binance’s own takedown process

Russian users will not be allowed to trade on the Binance P2P platform in US dollars (USD) and euros (EUR), which is in good agreement with the existing sanctions on SWIFT and SEPA payments, which leads to the separation of the Russian Federation from the Eurozone. In turn, Ukrainian pharmacies recently Integrated Binance Payment To speed up the arrival of medical goods.

In addition, Anonymous, the most famous international hacking activist group, gladly received the news. They said it “sounds like a punishment that should almost follow suit”, implying that the European Commission had previously been too lenient with Vladimir Putin’s violent regime.

Encryption is a lifesaver for Ukrainian soldiers

Encryption has been mainstream in Ukraine since the invasion began and it has been It is considered life saving By Mykhailo Fedorov, Vice President of the State. Due to typically faster transaction speeds, donations come in early and on weekends.

Moreover, inspired by President Volodymyr Zelensky, all parks and squares of Ukraine immortalize in the Freedom Squares NFT group, which raised more than $2 million in donations to the embattled Eastern European country last year. With plans to build an innovative crypto hub in Kiev, Ukraine is now the fastest growing crypto adopter.

on the flip side

  • The restrictions are limited to the Binance (P2P) platform and will not affect spot pairs.

Why should you bother

CeFi giant Binance complies with the requirements of the European Union Penalties Regarding the Russian invasion of Ukraine, as an example for other retail cryptocurrencies to follow.

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