Binance, a cryptocurrency exchange that has consistently rejected regulations, has turned around and started regulations on Russia
Binance, a cryptocurrency exchange that has refused to regulate Russia, says that it is not possible to unilaterally freeze the accounts of millions of innocent users because it goes against the raison d'etre of cryptocurrencies. It has been revealed that the users of the department will be subject to regulatory measures.
Changes of Services to Users in Russia | Binance Support
Binance announced a service change for Russian users on April 21, 2022, and was established in Russia as a Russian citizen or resident of Russia with a virtual currency worth more than 10,000 euros (about 1.4 million yen). We have decided to limit services to Russian corporations.
Due to this change, users' accounts that fall under the above will be dedicated to withdrawals, all deposits and transactions will be suspended, and new identification procedures will be required. Also, if the target user holds an open position for futures trading, all will be forcibly settled within 90 days.
In addition, all services will be available again to individuals and corporations who have been confirmed to live outside Russia by identity verification. Also, even if you live in Russia, if you have less than 10,000 euros in the first place, you will not be subject to regulation.
Since Russia's invasion of Ukraine on February 24, 2022, several governments and private companies have begun to regulate Russia. Ukraine's Deputy Prime Minister Mikhail Fedrov also requested cooperation from major crypto exchanges as part of the regulation, but some exchanges, including Binance, understand the request but are neutral. He stated that he would not regulate the currency as he would protect the position of the platform.
Cryptocurrency exchanges reject account freeze requests for Russian users one after another --GIGAZINE
In this service change, Binance said, 'Binance must continue to lead the industry in enforcing these sanctions. All other major exchanges must immediately comply with the same regulations. I believe. '
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in Posted by log1p_kr