Binance begins enforcing tougher KYC checks on Russian users with holdings exceeding €10,000, following further EU sanctions
Crypto exchange Binance is enforcing tougher Know Your Customer (KYC) checks for Russian users after the latest wave of European Union sanctions. Source: Binance .
The Block Ryan Weeks
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Discussion
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@rprose
Scott Rose
on x
Binance Holdings, the world's largest cryptocurrency exchange by trading volume, is set to limit services for Russian nationals with assets exceeding 10,000 euros, according to a person with direct knowledge of the matter https://www.bloomberg.com/... via @BenBartenstein @crypto
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@mskvsk
Lex Moskovski
on x
Binance has restricted services for Russian nationals. https://www.binance.com/...
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@rprose
Scott Rose
on x
#Binance accounts impacted will be put into withdrawal-only mode, the person said, and no deposits or trading will be allowed. Russian nationals & entities established in Russia with crypto balances >10,000 euros will have 90 days to close their positions https://www.bloomberg.co…
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@electroxts
Andrew
on x
R.I.P @binance to Russian Thanks @cz_binance It was a fun 4 years spent together, we grew up together and dump together, but now our destinies diverge, apparently such karma #bnb #binance good luck 😉👌 https://www.binance.com/... https://twitter.com/...
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@paulcr2009
Paul Cr
on x
so, @cz_binance, you twit something about freedom of finance for ordinary users and then just follow bankster sanctions? https://www.binance.com/...
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@brian_trollz
@brian_trollz
on x
Here we go. Welcome to the dominoes leading to full KYC requirements at pools. https://twitter.com/...
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@thecryptolark
Lark Davis
on x
The US government has imposed sanctions on a Russian #bitcoin mining company. 1 I don't think they understand how Bitcoin works 2 This may be the first example of a miner being sanctioned https://decrypt.co/...
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@lindapjones
Linda P. Jones
on x
U.S. did this bc it fears Russia avoiding sanctions with Bitcoin. “The sanctions on BitRiver could have an impact far beyond the crypto mining industry in Russia, by potentially redistributing and reducing the computing power for Bitcoin mining across the globe...” Bye 👋 Bitcoin …
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@matthew_pines
Matthew Pines
on x
Sanctions won't stop them from running ASICs or earning BTC. The best way to degrade their mining revenue is to let US domestic (and ex-RU) hash-rate grow faster than RU's ops. More US-based bitcoin mining ->less block reward for Russian miners. https://twitter.com/...
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@lindapjones
Linda P. Jones
on x
For the first time ever, the US Treasury just sanctioned (Russian) bitcoin miners. They are the 3rd largest miners in the world. They did it because they are afraid that Russia will try to get around sanctions by using Bitcoin. https://home.treasury.gov/... Thread (1/5)