Binance Announces to Ban Russian Mastercards and Visa Cards from February 9; States that “This is Not our Decision”.

Russian has to face another sanction

Binance will not allow all Mastercard and Visa cards issued in Russia to be used on its platform, starting from 2022-03-09 21:00 (UTC). The announcement has been revealed via its official Twitter, and Binance CEO CZ has stated that it is “out of our hands. Not our decision.” 

A few days ago, Coinbase, the biggest U.S. crypto exchange, has also announced to block access from sanctioned actors, which included also those maintained by the United States, United Kingdom, European Union, United Nations, Singapore, Canada, and Japan.

“To open a Coinbase account, individuals and entities must provide identifying information, including their name and country of residence. We screen this information via an independent vendor before permitting an individual to transact. If a customer lives in a sanctioned country or region, or if they are identified as a sanctioned individual or entity, they cannot open an account on our platform,” Coinbase stated.

Recently, a series of sanctions actions have been executed on Russia, following its invasion of Ukraine. The conflict has been attacking the global economy, making Bitcoin’s price plummet to $34,500 and the whole crypto market steps into the red season.

The Russian government and its citizens now have to suffer a series of financial sanctions from the Western.

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