Binance Halts Services for Russian Accounts Worth Over €10,000 as Western Sanctions Toughen
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According to the company’s official announcement on Thursday, the move comes as the European Union (EU) implements its fifth sanctions package on Russia. Earlier this month, EU member states reached an agreement to outlaw providing “high-value” crypto-asset services to Russian individuals or entities as the West continues to mount sanctions on the nation for its military invasion of Ukraine.
That said, Binance has implemented a mandate for customers to complete their address verification to identify culpable accounts. The exchange further explained that these accounts would automatically get placed under “withdraw-only” mode, which will prevent account holders from making deposits or trades.
However, Binance emphasized that accounts belonging to Russian nationals or entities holding less than €10,000 will not experience any restrictions. The company added: “While these measures are potentially restrictive to normal Russian citizens, Binance must continue to lead the industry in implementing these sanctions. We believe all other major exchanges must follow the same rules soon.”
Key Binance Coin Levels to Watch — April 22
Binance Coin (BNB) tumbled towards the $400 support on Thursday as the broader market lost its bullish momentum. The fourth-largest cryptocurrency dropped to the $401.45 mark yesterday night before rebounding to the $410 resistance. However, BNB appeared to lack the bullish composure to sustain a push to the $420 mark, where the 4-hour 100 EMA resides.
That said, a fall to the $400 round figure over the coming hours is likely and necessary to complete the newly-formed trading cycle. A retrace to the $400 level should trigger a rebound towards $436 over the coming day.
Meanwhile, my resistance levels are $420, $436, and $450, and my support levels are $400, $380, and $365.
Total Market Capitalization: $1.85 trillion
Binance Coin Market Capitalization: $66.5 billion
Binance Coin Dominance: 3.58%
Market Rank: #4
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