Binance no longer allows Russians to make transfers, withdraw money to foreign banks - Ukrainian deputy PM

KYIV. May 13 (Interfax-Ukraine) - The Binance cryptocurrency exchange no longer allows Russian citizens to make transfers and to withdraw money from their Binance accounts to foreign banks, Ukrainian Deputy Prime Minister and Minister of Digital Transformation Mykhailo Fedorov said.

"Binance, one of the world's largest cryptocurrency exchanges, no longer permits Russians, regardless of their country of residence, to make transfers and to withdraw money to foreign banks," Fedorov said on Telegram.

As reported, Binance launched a cryptocurrency card for Ukrainians who had to relocate to countries of the European economic zone because of the ongoing situation in Ukraine.

The card allows Ukrainians to receive assistance from Binance and charities, as well as cryptocurrency from any other wallets, should such a need arise.

Displaced Ukrainians who have been vetted by local nonprofit organizations and applied for a Binance Refugee Crypto Card will receive 75 BUSD, equivalent to $75 per month for three months - in line with the donation level recommended by the Office of the United Nations High Commissioner for Refugees and the UN Refugee Agency, Binance said in a press release. The BUSD cryptocurrency is automatically converted to local currency when you pay with the card, it said.