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Russians Based Abroad Say They Can’t Withdraw Funds from Binance

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Russian users – even some not located in the aggressor state of Russia – are complaining that they are having problems using the crypto exchange Binance.The Telegram-based Russian financial news channel Banksta reported that the Binance exchange had “decided to punish Russians, regardless of their country of residence.” It wrote: “If [you are] Russian, then [...] transfers to international banks are impossible.”The channel also published screenshots of an apparent chat conversation between a Russian-speaking member of Binance staff and a customer.

The customer in question claimed that they were a resident of the United Arab Emirates, but the Binance staff member appears to have answered that the reason why transfers had been blocked in this customer’s case was that when the customer originally signed up to Binance, they had chosen “Russia” as their country of residence.Last month, Binance announced that, due to the Russian invasion of Ukraine, all Russian nationals, residents of Russia, and companies based in the country holding cryptoassets worth over USD 10,400 would be banned from making deposits and trading on its platform.

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