CryptoMediaClub
Tuesday, July 29, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home Bitcoin

Binance adds fiat currency restrictions for Russian users

28.08.2023
A A
0
124
VIEWS
ShareShare

Cryptocurrency exchange Binance continues introducing more restrictions for Russian customers on its peer-to-peer (P2P) trading platform.

Binance P2P has banned Russian residents from using fiat currencies other than the Russian ruble, Binance announced on its Telegram channel on Aug. 27.

Binance’s Russian clients residing outside the country have also been banned from using currencies like the ruble, the euro, the United States dollar and the Ukrainian hryvnia.

In order to use the Russian ruble on Binance P2P, users must have Russian Know Your Customer (KYC) verification and reside in Russia at the same time, the exchange stated.

“We apologize for the inconvenience. If you have any questions or need assistance regarding this update, please contact Binance Customer Support,” Binance stated. The announcement has brought some attention from Binance’s Russian users, with the Telegram post having amassed nearly 700 user comments at the time of writing.

The new restrictions have mostly affected Russians who reside in other countries and need to convert their rubles from Russian banks to other currencies using Binance’s P2P service, according to multiple comments.

For example, one alleged Binance P2P user experienced difficulties in buying Tether (USDT) with rubles from the sanctioned Russian Tinkoff Bank. “My account is verified abroad,” the alleged user said, adding that she needed to transfer her Russian pay to Switzerland.

“If you’re in Switzerland, you should be taking your pay in francs,” one Telegram user commented. Another alleged Binance P2P user also faced issues in transferring rubles to Kazakhstan.

“I have been in Kazakhstan for almost a year, I live and work here. But sometimes I need to transfer money from the Russian Federation, so for a year now I have been buying USDT for rubles and selling them for the Kazakh tenge,” the person wrote in a chat with Binance customer support. The user complained about becoming unable to proceed with such transactions after Aug. 25.

Interaction between a user and Binance Support. Source: Telegram

Addressing the complaint, a Binance customer support manager noted that users need to meet all three requirements to use rubles on Binance, including providing the Russian KYC, Russian nationality and Russian proof of address.

Binance didn’t mention whether the latest restrictions for Russian citizens are related to Western sanctions or, rather, new fiat currency restrictions imposed by the Russian government amid the decline of the ruble.

According to local reports, banks have been introducing massive restrictions on fiat deposits and transfers, including 50% fees on U.S. dollar transactions, amid the ruble crashing through 100 rubles vs. the U.S. dollar in mid-August.

Related: OKX and Bybit remove sanctioned Russian banks from payments list

Binance did not immediately respond to Cointelegraph’s request for comment.

The latest restrictions by Binance add to a series of other recent measures targeting Russian users. On Aug. 25, Binance removed sanctioned Russian banks like Tinkoff Bank and Rosbank from the list of available payments on its P2P platform.

The news came just a few days after Binance promoted its services on vDud, one of the biggest Russian YouTube channels run by Yuri Dud.

Magazine: Hall of Flame: Crypto Banter’s Ran Neuner says Ripple is ‘despicable,’ tips hat to ZachXBT

Share10Tweet6ShareSharePin2

Related Posts

Coinbase’s Astounding $100 Billion Milestone Amidst Bitcoin’s Record Surge
Bitcoin

Coinbase’s Astounding $100 Billion Milestone Amidst Bitcoin’s Record Surge

15.07.2025
0

BitcoinWorldCoinbase’s Astounding $100 Billion Milestone Amidst Bitcoin’s Record Surge The cryptocurrency world is buzzing with excitement, and for good reason!...

Read moreDetails
Bitcoin’s Unseen Ascent: Why Market Euphoria Is Still Ahead, According to Alphractal CEO

Bitcoin’s Unseen Ascent: Why Market Euphoria Is Still Ahead, According to Alphractal CEO

14.07.2025
Bitcoin Holdings Soar: The Blockchain Group’s Momentous Digital Asset Accumulation

Bitcoin Holdings Soar: The Blockchain Group’s Momentous Digital Asset Accumulation

14.07.2025
Bitcoin’s Astonishing Anomaly: Why Public Search Interest Remains Low Despite Record Highs

Bitcoin’s Astonishing Anomaly: Why Public Search Interest Remains Low Despite Record Highs

14.07.2025
Bitcoin Treasury Strategy: Unleashing Growth with The Blockchain Group’s $3.52M Boost

Bitcoin Treasury Strategy: Unleashing Growth with The Blockchain Group’s $3.52M Boost

08.07.2025
Load More
Next Post
Pepe [PEPE] MemeCoin Controversy: Is There Hope on the Horizon?

Pepe [PEPE] MemeCoin Controversy: Is There Hope on the Horizon?

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Bitcoin and Ethereum inflows surge past $1.2B despite rising geopolitical risks

Bitcoin and Ethereum inflows surge past $1.2B despite rising geopolitical risks

1 month ago
Global Debt Hits Record $307 Trillion Despite Rising Interest Rates

Global Debt Hits Record $307 Trillion Despite Rising Interest Rates

2 years ago
Dogwifhat Drama: Ethereum NFT Auction Sparks Controversy with Solana Community

Dogwifhat Drama: Ethereum NFT Auction Sparks Controversy with Solana Community

1 year ago
KULR Technology Group Plans Bold Move: Raising $300M to Buy Bitcoin

KULR Technology Group Plans Bold Move: Raising $300M to Buy Bitcoin

2 months ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Major Breach Study Reveals Widespread Leaks of Bank Statements, SSNs, and Crypto Keys

Global stablecoin searches hit all-time high with Washington leading traffic

PayPal Expands Crypto Payment Acceptance in U.S.

US Seeks to Claim $2.4M Bitcoin Seized from Chaos Ransomware Group

Tron Inc. Registers $1B in Securities to Pivot Into TRX-Focused Crypto Treasury

Bitcoin ETFs Log Third Day of Gains as Ethereum Inflows Hit 17-Day Streak

Trending

Interactive Brokers Considers Launching Its Own Stablecoin
All news

Interactive Brokers Considers Launching Its Own Stablecoin

29.07.2025
0

Brokerage firm Interactive Brokers is exploring the possibility of issuing its own stablecoin to enable 24/7 account...

The Future of Bitcoin BTC Income: EarnMining App Offers Stable Daily Rewards

The Future of Bitcoin BTC Income: EarnMining App Offers Stable Daily Rewards

29.07.2025
93% of Financial Institutions Plan to Implement AI Agents in Compliance

93% of Financial Institutions Plan to Implement AI Agents in Compliance

29.07.2025
Major Breach Study Reveals Widespread Leaks of Bank Statements, SSNs, and Crypto Keys

Major Breach Study Reveals Widespread Leaks of Bank Statements, SSNs, and Crypto Keys

29.07.2025
Global stablecoin searches hit all-time high with Washington leading traffic

Global stablecoin searches hit all-time high with Washington leading traffic

29.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz