Binance adds fiat currency restrictions for Russian users

Cryptocurrency exchange Binance continues presenting more restrictions for Russian clients on its peer-to-peer (P2P) trading platform.Binance P2P has prohibited Russian homeowners from using fiat currencies other than the Russian ruble, Binance revealed on its Telegram channel on Aug. 27. Binances Russian clients residing outside the country have actually likewise been banned from using currencies like the ruble, the euro, the United States dollar and the Ukrainian hryvnia.In order to utilize the Russian ruble on Binance P2P, users need to have Russian Know Your Customer (KYC) confirmation and live in Russia at the exact same time, the exchange specified. The statement has brought some attention from Binances Russian users, with the Telegram post having collected almost 700 user comments at the time of writing.The brand-new restrictions have actually primarily impacted Russians who reside in other nations and need to transform their rubles from Russian banks to other currencies using Binances P2P service, according to numerous comments.For example, one declared Binance P2P user experienced problems in purchasing Tether (USDT) with rubles from the approved Russian Tinkoff Bank.