Binance will not support Mastercard and Visa cards issued in Russia, and Coinbase blocked 25 thousand wallets of Russians
Starting from March 9, 2022, the world's largest crypto exchange Binance will not support Mastercard and Visa cards issued in Russia. This is reported on the company's website.
Details of the Binance ban"Starting from Wednesday, 09.03.2022 21: 00 UTC, all transactions initiated with Mastercard and Visa cards issued in Russia will not be available on Binance," the statement said.
In addition, all transactions initiated with Mastercard and Visa cards by financial institutions outside the Russian Federation will also be unavailable in Russia on Binance.
"The invaders will no longer be able to withdraw or buy crypts from their cards. The Iron Curtain was almost down...",- commented on this decision of the head of the Ministry of Digital Development Mikhail Fedorov.About blocking Russian Coinbase wallets
In turn, another cryptocurrency trading platform is Coinbase Global Inc. she said that she blocked more than 25 thousand wallet addresses associated with Russian individuals or legal entities that, in her opinion, are engaged in illegal activities.
According to data for 2021, blocked addresses account for about 0.2% of the 11.4 million Coinbase users who make monthly transactions.
"Today, Coinbase has blocked more than 25,000 addresses associated with Russian individuals or legal entities that we believe are engaged in illegal activities, many of which we discovered during our own preemptive investigations. We shared them with the government to further support compliance with the sanctions," Coinbase general counsel Paul Greval commented on the decision.
According to him, the company "fully supports" international economic sanctions imposed against Russia after the military conflict with Ukraine.
Earlier, Coinbase CEO Brian Armstrong said that some ordinary Russians use cryptocurrency as "a lifeline now that their currency has fallen."
