Russian bank users reported they are not able to buy cryptocurrencies and deposit fiat currencies.
Russian users had received warning messages the service is not recently available. However, Binance told they are not looking forward to banning Russian users.
Why Rubel Ban?
Recently customers from Russian banks were affected by the sanctions as they reported they are unable to buy cryptocurrency or to deposit fiat currency on Binance.
This surged after US tight its sanctions against Russia. Many Russian banks were imposed with tight new sanctions. Especially the SWIFT service is also banned in Russia.
As the reports say 7 Russian banks are removed from the SWIFT service. With all these messing Russian users who are trying to buy digital assets or deposit fiat currencies on the world’s largest cryptocurrency exchange, Binance claimed that they have received warning messages, informing them that Russian local banks are recently not supported.
Especially people who have used Russian fiat currency Rubel has faced this warning message. The message says,
“Please be informed, We currently do not support the bank cards issued in your country.” furthermore Binance had stated in the message they are “working on making this a possibility as soon as we can.”
However, the official sites and channels of Binance Russia especially its Telegram and Twitter account have not posted anything regarding this warning message.
Some Russian users have complained about this matter to Binance via Telegram and the administrators have stated that “Binance is operating normally”. Some users who are managed to contact the Binance Official page said Binance explained to them that “It must be an error, we are looking forward on this matter”.
Deep into this matter at the moment government heads from western countries have asked many cryptocurrency exchanges to ban Russian users. Especially last week Ukraine government officials such as Ukraine’s Vice prime minister asked all the cryptocurrency exchanges to ban Russian users.
However, Changpeng Zhao Binance founder and Chief Executive Officer had an interview with Bloomberg Television on Wednesday and he stated that ” We won’t place a blanket ban on Russians trading on its platform.
It is not our decision to ban or freeze user accounts. Many Russians do not support this war. So we Binance think we should see this matter separate from the politicians and normal people”
Furthermore, he added we will follow international laws and sanction rules. We do not make sanction rules we only follow the rules and do what the recommendations are. Some information has confirmed that Binance is restricting cards issued by Sberbank.
