It’s never ending! Yesterday, Monday 07 March, we mentioned the case of Coinbase which announced that it had blocked 25,000 Russian addresses suspected of being involved in illegal activities. The centralized exchanges seem to bend one after the other to the new regulations that a part of the international community decides. These regulations have been reinforced since the beginning of the Russian-Ukrainian conflict.
Today, it is the turn of Binance, a cryptocurrency exchange platform, to comply with the legislation in force.
The announcement was made on the official Twitter account of Binance.
It shows that all transactions made with a Visa or Mastercard issued in Russia will be unavailable from March 09, 2022, at 9 pm. In addition to that, Binance states that all transactions initiated with Mastercard and Visa cards by financial institutions outside Russia will also be unavailable within the Russian Federation on Binance.
This decision comes as Visa and Mastercard decided and announced on March 06 to cease all activity in Russia, in response to the war in Ukraine.
“All Mastercard and Visa cards issued in Russia will be unavailable on #Binance from 2022-03-09, 21:00 UTC”.
— Binance (@binance) March 8, 2022
The news quickly made the rounds on the web.
Binance has announced that starting March 9, 2022, all transactions initiated with Mastercard and Visa cards issued in Russia will be unavailable on Binance. Mastercard and Visa announced on March 6 that they would cease operations in Russia. https://t.co/ED51BxWYEt
— Wu Blockchain (@WuBlockchain) March 8, 2022
The CEO of Binance was keen to clarify on Twitter that this decision was not their responsibility.
This is out of our hands. Not our decision. https://t.co/K3mH75Ul3B
— CZ 🔶 Binance (@cz_binance) March 8, 2022