Binance Russia, the world’s largest cryptocurrency exchange has resumed its support for Russian bank-issued Visa and Mastercard cards, according to multiple online news sources.
Kod Durova specifies that Russian cards are now allowed to make deposits in rubles, Turkish lira, British pounds, Euros, Kazakhstani tenge, and other currencies. Also noted is that the U.S. dollar is not on the list.
According to the publication, transfers are made through the Qiwi electronic payment system. Withdrawal of funds is currently limited to 4,300 to 200,000 rubles (around $53 to $2,455), writes Kod Durova.
Binance was ordered to be blocked by Russia’s telecommunications regulator, Roskomnadzor, in September 2020. The regulator accused the exchange of disseminating information related to the acquisition of digital currencies like Bitcoin, which is prohibited under Russian law.
It’s unclear how long the ban lasted or when the exchange was allowed to resume operations. Nonetheless, recent reports suggest that Binance has resumed its support for Russian bank-issued Visa and Mastercard cards, indicating that the exchange is operating in Russia again.
While Binance has resumed support for Russian cards, it is unclear how many Russian citizens actively use the exchange. it is worth noting that Russia has a growing interest in cryptocurrency, with several exchanges and trading platforms operating within the country.
