• December 5, 2023


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Binance May Impose Sanctions on Russian Users

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Changpeng Zhao, CEO of crypto exchange Binance, has said that the sanctions against Russia because of its invasion of Ukraine have created a “difficult situation” for Binance to work with Russian users.

According to him:

“We are against military dictatorship, but not against the population. However, our company is licensed in many different places, and we have to follow the rules.”

He has said he does not have a definitive answer yet when he was asked if Binance would block users from Russia.

He has noted that Binance’s licensed companies in Europe will definitely not be able to serve Russian citizens, but with regard to other jurisdictions there is no clear decision yet.