The Binance crypto exchange has restricted Russians from buying currencies other than the ruble

The Binance crypto exchange has restricted Russians from buying currencies other than the ruble

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Since August 26, the Binance crypto exchange has introduced restrictions for Russians to trade in any currency except the ruble through the Binance P2P (peer-to-peer) service.

The website vc.ru writes that gamers were the first to report the restrictions. They could not buy Turkish lira through the service of the stock exchange to purchase games on Turkish Steam, PlayStation and Xbox accounts.

One of the Russian users confirmed to the Frank Media portal that he had lost the possibility of P2P operations in currencies different from the ruble.

Binance has not yet explained what the restrictions are.

Russians began to use cryptocurrency services more often against the background of sanctions imposed against Russia due to its attack on Ukraine. In Russia, transfers through SWIFT are severely limited, international payment systems have left the market.

In April 2022, Binance banned Russians from having crypto-assets with a total value of more than 10,000 euros, but the restriction was lifted an hour later.

In February, as part of the next package of European Union sanctions, the crypto market banned Russians from buying and selling dollars through the P2P service. The restrictions do not affect Russians permanently living abroad.

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