One of the largest crypto exchanges, Binance, has restricted the buying and selling of euros and dollars through its p2p service for Russians. Company representatives reported this to Forbes, adding that such a decision is related to the 10th package of sanctions against Russia.
The ban applies not only to citizens of Russia, but also to people residing in the country. Also among the restrictions is a ban on European citizens buying and selling Russian currency via p2p.
P2p services have been popular among Russians since 2022. The tool allows you to transfer funds abroad, which is why it has become in demand in the Russian Federation amid the disconnection of banks from SWIFT. With p2p, you can send money from one crypto wallet to another, as well as buy cryptocurrency.
In April 2022, Binance introduced a €10,000 limit for Russians to store funds in their crypto wallets. At the same time, the eighth package of EU sanctions imposed a complete ban on the use of European crypto wallets for Russian citizens. However, Binance did not deprive the Russians of this opportunity.
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