Cryptocurrency exchange Binance to limit services in Russia after fresh EU sanctions

Binance, the world's largest cryptocurrency exchange, has limited services to Russian residents following the European Union's fresh round of sanctions against the country amid the war in Ukraine. Those that have open futures or derivatives positions with crypto account balances surpassing 10K EUR ($10.79K) will be given 90 days to exit their positions, Binance said in a release Thursday. Specifically, accounts that fall under Binance's restriction will be put into "withdrawal-only mode," meaning deposits and trading will be prohibited on those accounts. The limit also covers all spot, futures, custody wallets, and staked and earned deposits, the company said. "While these measures are potentially restrictive to normal Russian citizens, Binance must continue to lead the industry in implementing these sanctions," the company highlighted. "We believe all other major exchanges must follow the same rules soon." Earlier in the week ended April 22, Binance.US secured a license to offer crypto trading services in