Russian traders published a petition to cancel the trading limit on Binance

The authors of the initiative believe that conflicts between countries should not affect the fate of ordinary people

22.04.2022 - 09:40

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What’s new? As part of the fight against the restrictions of the Binance cryptocurrency exchange against users from Russia, traders have launched a petition that seeks to cancel the previously imposed limits of €10 000 on accounts. At the time of writing (11:00 Moscow time, April 22, 2022) it has already been signed by 218 people.

Petition on the website of Change.org

What do the traders offer? According to the authors of the petition, the restrictions by the exchange are a sign of nationalism. They stress that there are millions of people in Russia whose fates are closely intertwined with cryptocurrencies, and they should not suffer because of political conflicts. The main purpose of the petition is to gather the maximum response and contact the Binance administration to increase the limit of funds that can be held on the accounts of the exchange’s Russian customers.

What had happened before? On April 21, the Binance cryptocurrency exchange reported the introduction of new restrictions for users from Russia. For accounts with an amount in excess of €10 000, the account will be put into “withdrawal-only” mode, and users will not be able to trade or deposit additional funds into their account.

The limit covers all spot, futures, and custody wallets, as well as interest on deposits and staking. 90 days will be provided for closing positions. Withdrawals to other crypto wallets will remain possible at any time.

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