Reportedly Binance restricted some Russian card fund deposits

Users are reporting that Binance is not allowing them to add fiat balance deposits on the exchange directly.

Binance is a popular crypto exchange. This exchange has its hand in almost every country with its quality crypto services. Because of some past scrutiny threats on the exchange, the team is giving its services under more compliance to remain away from more new threats. 

According to reports, many Russian users of the Binance exchange are facing issues during the fiat deposit process on the platform directly with the help of Russian Bank issued cards. Russian users are getting pop-up notifications regarding this. 

“Please be informed. We currently do not support the bank cards issued in your country. working on making this a possibility as soon as we can.”

At the time of writing this article, no announcement regarding any kind of such decisions has been seen in Twitter or Telegram channels.

In an inquiry response, a spokesman of Binance Russia said that it is a technical error only. 

“It must be some kind of error. Nobody blocked anything. This is likely some kind of error. If we change something, we inform (you).”

However, some users responded to such issues and said that they are able to add fiat deposits easily through the card issued by Tinkoff, a Russian financial services company. 

Few people claimed that it may be a hint that the Russian subsidiary of Binance is working in the backend to follow some kind of same rules to operate services under compliance if imposed some situational force on exchange. 

Recently Binance exchange donated $10 million to Ukraine’s different government agencies to help it against the invasions of the Russian military.

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