According to media reports, the Binance exchange is removing the $10,000 deposit limit for Russian users. Lawyer Andrei Tugarin believes that this is due to a change in jurisdiction.
Representatives of Binance gave a comment to the RBC publication, in which, however, they did not confirm the lifting of restrictions, but emphasized that the implementation of sanctions is limited only by the European Union:
“All current restrictions related to sanctions against Russian citizens are applied by the platform and its legal entities in the European Union in full. In accordance with the European Union (EU) sanctions rules regarding Russia, Binance legal entities registered in EU jurisdiction are prohibited from providing services in the EU and EEA to legal entities established in Russia, as well as Russian citizens, with the exception of the category of persons who are citizens or residents of the EEA or Switzerland."
Andrey Tugarin believes that to circumvent sanctions, users from Russia could be transferred to another jurisdiction, since the Binance group includes several companies from different jurisdictions. This made it possible to limit the group’s European legal entities from working with Russians and, at the same time, comply with sanctions and circumvent restrictions.
This is indirectly confirmed by the platform’s “Terms of Use,” which states that if legal disputes arise among users from Russia, Hong Kong law is applied.
Recently, the largest crypto exchange announced the addition of a new trading pair - ARB/RUB.
