Clients from Bosnia and Herzegovina, Belarus and other countries with a list of sanctions will not be able to work on the platform because of their policy. RBC-Crypto Editors have found out whether Russian users will withdraw funds from the stock market
Binance users will no longer be able to work on the Binance exchange, and on November 28 they received a letter stating that the company did not work in countries listed on the UN Security Council's or OFAC's list of sanctions. Also recently, site users from Bosnia and Herzegovina and Iran have had problems accessing the platform.
According to Russian President Cryptoindustry and Blockchain (RACIB), Yury Pripachkin, the organization is in touch with the major stock exchanges and is ready to actively promote the constructive co-operation of Russian cryptoscribers with cryptosplit. Several places, including Huobi and the rest, opened offices in the country this year.
"We hope that it will not affect Russian users. I do not think anyone wants to lose Russian investors," Pripachkin said.
Senior analyst Alpari Anna Bodrov explained that the exchange tries to comply with financial regulations in some countries. He called the repressive policy of Binance.
"So far, there have been no data on whether instructions for closing accounts and withdrawing funds to Russian users are provided, but, theoretically, this may also be the case," Bodrov said.
It is rather difficult to predict the behavior of the exchange that restricts users only to the citizenship of the country, against which politicians imposed restrictive sanctions, said Nikita Zuborev, senior analyst at BestChange.ru. He urged not to make impulsive decisions solely on the basis of this news.
"The probability of restraint for the citizens of Russia remains, however, extremely small. In the first half of 2019, Binance plans to launch a decentralized exchange that will reduce the impact of any sanctions on users from anywhere in the world," Zuborev explained.
The exchange rate policy affects consumers from a growing number of countries. It is not known at this time whether it will affect users in Russia at the end, but that possibility exists.
Earlier, the creator of Ethereum, Vitalik Buterin, wanted centralized exchange to "burn in hell." He pointed out that such places lead to a strong centralization of the cryptomy industry.
More information about cryptographers can be found in our telegram channel RBC-Crypto.