Belarusians lose access to Binance exchange services

The rating cryptocurrency exchange Binance continues to comply with regulatory requirements, making its users nervous. This time, Binance is denying service to exchange users from Belarus.

Last week, registered Belarusian clients of the service received emails similar to the Iranian mailinge.

Binance recommends that these users withdraw funds from the exchange due to the termination of account services. The exchange does not indicate specific dates for the restrictions to come into force and notes that it operates in accordance with the requirements of the Office of Foreign Assets Control (OFAC) and puts users from Belarus on a par with traders from Iran and Zimbabwe who are subject to US economic sanctions.

Today, more than 10 countries are subject to OFAC sanctions and Binance can refuse its services to any of these jurisdictions.

Belarus is among the few countries Europe, which adopted cryptocurrency rules. In March Decree of President Lukashenko No. 8 came into force, and at the beginning of this month detailed regulatory baseproposed by the High Technology Park (HTP). Regulatory documents have legalized the activities of cryptocurrency and blockchain companies registered in the HTP in Minsk.

However, there are no cryptocurrency exchange platforms in the HTP, and Binance’s decision to limit services will make it more difficult for Belarusians to buy and sell coins.