Binance Restricts Access for Russian Users

“Compliance with regulations is always our top priority. We are deeply committed to our users and maintaining their trust in our platform. Binance is constantly investing in our team and systems to protect our users,” a Binance representative said.

Binance affirms compliance with international sanctions laws

Cryptocurrency exchange Binance says it is restricting access to its platform for Russian individuals and entities subject to international sanctions. The company’s press office told Tass last week.

Binance strictly adheres to global sanctions regulations and fully complies with restrictions on individuals, legal entities, and countries subject to international sanctions, preventing these entities from accessing its platform.

This is in line with Binance’s policy of complying with global sanctions against Russia and other sanctioned countries, which have affected a limited number of users.

While Binance is still providing limited services to existing Russian users to ensure the safety of their digital assets, it said it is reviewing its operations in the region. The company stressed:

“Regulatory compliance has always been our top priority. We are deeply committed to our users and maintaining their trust in our platform. We are constantly investing in our team and systems to protect our users.”

Binance also affirmed its commitment to developing compliance frameworks, saying: “Our goal is to create industry-leading compliance programs and work effectively with regulators around the world.”