Binance was banned in the Russian Federation
The largest cryptocurrency exchange, Binance, faced bans again. But this time on the territory of the Russian Federation. The government has blocked the company’s website, it is currently impossible to access binance.com from local IP addresses. Next, we will tell you what should be done to our readers from the Russian Federation and how the blocking will affect the near future of the cryptoindustry. So let’s get started.
First of all, it should be recalled that earlier the Russian Federation made attempts to limit the cryptoindustry. The country has repeatedly tried to block Telegram, as well as various platforms for cryptocurrency trading. Including LocalBitcoins. In the case of the latter platform, the country was extremely serious about stopping work. They even blocked an additional copy of the site. But the relevant structures did not stop there. The blockages continue, at the moment the blow fell on Binance. Even such a large company could not protect itself from government sanctions. Note that the company has not previously received any warnings, requests or demands.
Today, the exchange received a letter stating that the binance.com website was included in the register of those prohibited in Russia. At the same time, the company itself noted that it would continue to work in the Russian Federation. The only caveat is that now you have to use a VPN, proxy or wait for the exchange backups to open. The company also stressed that the blocking did not affect the security of clients’ funds in any way. The money is completely safe and is still available to the residents of Russia. But through other IP addresses.
What will Binance do against the Russian Federation?
It is noteworthy that the blockings that have already passed are united by one interesting fact – the domain of the resource is not even indicated in the resolution on blocking the site. For example, if you study the court’s decision to ban Binance in the Russian Federation, you will not even find a mention of the site address. The same problem is with other resources that are prohibited on the territory of Russia. Obviously, the government is working on a template, providing the same material. But for different organizations.
Binance intends to challenge the decision of the Russian judicial system. And, most likely, the company will be able to achieve justice and restore work in the largest country. Nevertheless, all users from Russia will benefit from getting a quality VPN. Choose a reliable program that will guarantee a stable connection during this difficult time. Indeed, it is quite possible that the proceedings will drag on for many months.
The meaning of the event and its possible consequences
Of course, blocking a site is always a bad sign. It is likely that if Binance loses the lawsuit, the Russian government will take the company seriously. A complete blocking of the site is quite possible, because earlier the government had already called for a ban on a number of resources with information about the cryptoindustry. However, don’t panic. Do not rush to withdraw money from Binance if you are from Russia. Just download a quality VPN and stay tuned.
For representatives of other countries, this event is insignificant. It is unlikely that European states will follow the example of the Russian government and also put Binance on the list of banned sites. This is a rather strange and unusual event. But, of course, everything can change at any moment. Therefore, it is extremely important to stay up to date with all the latest news from the world of cryptocurrencies and technologies. We publish only high-quality and interesting material. Thank you for attention. We wish you good luck and stable work!