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Binance will not process transactions with Mastercard and Visa cards issued in Russia

Earlier, it was reported that Binance will not unilaterally freeze the accounts of users from Russia, but at the same time, it plans to take necessary measures in relation to users under sanctions

MOSCOW, March 8. /TASS/. Cryptocurrency exchange Binance announced its intention to suspend operations with Mastercard and Visa cards issued in Russia starting from March 9, according to a statement published on the exchange's website on Tuesday.

"Effective Wednesday, 2022-03-09 21:00 UTC (Thursday, 2022-03-10 00:00 UTC+3), all transactions initiated with Mastercard and Visa cards issued in Russia will be unavailable on Binance. In addition, all transactions initiated with Mastercard and Visa cards by financial institutions outside of Russia will also be unavailable within the Russian Federation on Binance," the statement said.

"This is out of our hands. Not our decision." CEO of Binance Changpeng Zhao wrote on Twitter.

Earlier, it was reported that Binance will not unilaterally freeze the accounts of users from Russia, but at the same time, it plans to take necessary measures in relation to users under sanctions.

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