Russians say that they can now use locally issued Mastercard and Visa cards to deposit funds on the crypto exchange, more than a year after such transactions were prohibited during the war.
Users can now deposit Russian roubles, euros, British pounds, and other currencies using bank cards issued in Russia, according to crypto news website Forklog on Saturday.
Early last month, Russian customers reported that Binance had relaxed limits for accounts with balances greater than 10,000 euros for Russian users.
The exchange has not issued an official announcement on either of these modifications.
During last year, the EU and the US placed sanctions on Russia for invading Ukraine. The majority of Russian banks were cut off from the international interbank settlement network SWIFT.
The EU broadened its restrictions last spring, prohibiting crypto businesses from serving Russian users with account balances greater than 10,000 euros.
That threshold was removed in the fall, making it impossible for Russian nationals and residents to use any crypto service registered in the EU. LocalBitcoins, Crypto.com, and Blockchain.com immediately informed Russian users that their accounts will be terminated.
Binance CEO Changpeng Zhao stated that while the company abides by the sanctions, but some of its legal entities located outside of the EU may still be able to service Russian customers.
