- Supported deposits come in multiple currencies including the Russian ruble, euro, and the British pound.
- The exchange has also lifted limits on Russian accounts with balances of more than 10,000 euros.
Russian users of cryptocurrency exchange Binance can once again use locally issued Mastercard and Visa cards banned a year ago after the exchange lifted restrictions without prior announcement.
On March 9, 2022, Binance suspended transactions with MasterCard and Visa Card issued in Russia on its platform following the country’s invasion of neighbouring Ukraine. The exchange also banned such transactions by a financial institution outside Moscow.
But now, the support for the suspended transactions has resumed, according to a local publication, Forklog. Russian cardholders can load their accounts using rubles, Turkish liras, British pounds, euros, Ukrainian hryvnias, Kazakh tenge, Aussie dollars, and Czech crowns. However, support for the US dollar remains suspended.
Internet publication Durov Code confirmed that the resumed services were available through the Qiwi payment gateway, with a withdrawal limit of between 4,300 and 200,000 rubles. Besides supporting Russian-issued plastic cards, the top digital asset exchange by volume has reportedly resumed rubble fiat deposits using Advcash and Payeer payment systems.
Restrictions For Users With More Than 10,000 Euros Reportedly Lifted
There are also unconfirmed reports that Binance had removed a 10,000 euros capped limit for Russian citizens, contrary to a statement shared with Forklog by a representative from Binance.
‘‘In accordance with the sanctions rules, Binance legal entities registered in the EU are prohibited from providing services to citizens of the Russian Federation, with the exception of the category of persons who are citizens or residents of the EEA or Switzerland. Users from Crimea, DPR/LPR are also denied access to the platform,’’ the source said.
Binance ban on Russians followed similar steps by the European Union (EU) and the US, which also saw Moscow removed from the global interbank settlement platform SWIFT.
