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While one of the biggest European crypto exchanges, WhiteBIT helps Ukraine in this difficult period and the most popular companies donate to help Ukrainian refugees, the well-known Binance removes the bans and makes it easier for Russian citizens.
Local crypto media reports indicate that Binance has lifted certain restrictions for its Russian users. As a result, Russian users can now use their bank cards to make deposits, and the exchange has also removed the balance limit that was originally introduced to comply with European sanctions.
Binance now accepts deposits from Russian bank cards, including those known to all Visa and Mastercard. Users can also fund their Binance accounts through the Russian payment service, “Qiwi’’ by selecting the “bank card” option. The exchange supports several fiat currencies, including the RUB, GBP, TL, and EUR, but does not currently support the USD.
In March 2022, Binance stopped accepting transactions made with Russian-issued cards, after Visa and Mastercard suspended their operations in Russia due to Western sanctions imposed in response to the Ukraine invasion. However, according to Kod Durova, users can now seamlessly convert rubles to cryptocurrency, such as USDT, without any commission charges. While ruble withdrawals are also possible, they are subject to certain limits. It is also worth noting that Last week, Russian crypto media sources reported that Binance’s tech support confirmed the lifting of the €10,000 ($11,000) limit on Russian accounts.
It should be noted that no official announcement has been made regarding the connection between Binance and Russian users, which further supports the news spread in the media.
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