By KYIV. May 12 (Interfax-Ukraine) – The Binance cryptocurrency exchange has closed transfers and withdrawals of money to foreign banks for Russians, Deputy Prime Minister – Minister of Digital Transformation Mykhailo Fedorov said.
"Binance, one of the world’s largest crypto exchanges, has closed transfers and withdrawals of money to foreign banks for Russians, regardless of their country of residence," he wrote on Telegram on Thursday.
As reported, Binance launched a crypto card for Ukrainians who were forced to move to the countries of the European Economic Area due to the war unleashed by Russia against Ukraine.
The card will allow Ukrainians to receive assistance from Binance and other charitable organizations, and, if necessary, receive cryptocurrency from any other wallets.
According to the exchange’s press release, refugees who have been verified by local non-profit organizations and applied for Binance Refugee Crypto Cards will receive 75 BUSD (equivalent to $75 per month) over three months in line with UNHCR’s recommended donation levels.
According to the announcement, the BUSD cryptocurrency will be automatically converted to local currency when paying by card.
