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Binance Limits Russia Services After EU Sanctions on Crypto (2)

April 21, 2022, 8:18 AM

The world’s largest cryptocurrency exchange by trading volume is limiting services in Russia, one of its biggest markets, following the European Union’s latest sanctions on Moscow.

Binance Holdings Ltd. will reduce its offerings for Russian individuals or entities based there who have crypto assets exceeding the value of 10,000 euros ($10,885), the company said in a blog post, confirming an earlier Bloomberg report.

Russia is one of Binance’s top five markets globally with about 10 million total accounts, two people familiar with the matter said. It’s estimated that fewer than 50,000 actually hold a value exceeding 10,000 euros, one ...