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Crypto exchange Binance blocks Russian users targeted by sanctions

The United States, Britain, Europe and Canada announced new sanctions on Russia on Saturday, including blocking certain lenders' access to the SWIFT international payment system, following Russia's invasion of Ukraine.

February 28, 2022 / 06:05 PM IST
Source: Reuters

Source: Reuters

Crypto exchange Binance is blocking the accounts of any Russian clients targeted by sanctions, it told Reuters on Monday, but will not freeze the accounts of others after Ukraine called for a block on Russian users at major digital currency platforms.

"We're blocking accounts of those on the sanctions list (if they have Binance accounts) and ensuring that all sanctions are met in full," a spokesperson for the company said on Monday, declining to give further details.

The United States, Britain, Europe and Canada announced new sanctions on Russia on Saturday, including blocking certain lenders' access to the SWIFT international payment system, following Russia's invasion of Ukraine.

Ukraine Vice Prime Minister Mykhailo Fedorov said on Sunday he had requested major crypto exchanges to block the digital wallet addresses of Russian users, which allow transactions in crypto coins.