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Binance Resumes Operations in Russia

Cryptocurrency exchange Binance has reintroduced compatibility with Russian bank-issued cards, according to BeInCrypto’s Russian language site. Binance had cracked down on Russian accounts following international sanctions against the country. In March, the exchange blocked transactions with cards from banks located in Russia, following Visa and Mastercard’s withdrawal from the country. In response to EU sanctions, Binance deactivated the accounts of many of its major clients from Russia. Russian users holding crypto worth over €10,000 ($12,100) were banned from making new deposits or trading. However, on Sunday messages appeared on Russian Telegram channels suggesting Binance had lifted the €10,000 restriction.  Russia has begun building its own payment systems after being locked out of critical payments infrastructure, like the Swift network.

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