Users report restrictions on the Binance P2P service for Russians

Restrictions were imposed in accordance with the tenth package of EU sanctions

09.03.2023 - 13:25

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What’s new? Russian users of the Binance peer-to-peer (P2P) service have reported new restrictions from the crypto exchange. According to a screenshot of correspondence with technical support, Russian citizens and persons of any nationality living in the country will not be able to buy or sell US dollars and euros. Citizens of the European Union, in turn, will be denied access to buy and sell Russian rubles. Information about this appeared in the Telegram channel of DeCenter.

What else is known? The restrictions were imposed in accordance with the tenth package of EU restrictive measures against Russia. To continue using the P2P service, Binance suggests choosing other available payment methods.

Late last year, Binance CEO Changpeng Zhao explained that the exchange must comply with the laws of the countries in which it is licensed. However, he called the situation with sanctions against Russia “tricky,” adding that the exchange has no clear idea of their implementation at the international level.

In January, Binance without warning blocked the accounts of users from Eastern Europe and the CIS linked to the crypto service Bitzlato, which is under investigation by US and EU authorities.

In February, Binance shut down futures trading in Australia and closed all the positions of retail investors, mistakenly classified by the exchange as wholesale. Under local laws, retail investors cannot use the derivatives platform.

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