Customers of one of the largest cryptocurrency exchange in the world, Binance, began receiving letters notifying them that the exchange would stop servicing their accounts. The exact dates are not disclosed.

Brave new world and sanctions

Binance will stop providing services to residents of Belarus.

“By accessing and using Binance and any of its services, you acknowledge and declare that you are not on any trade or economic sanctions lists, such as the UN Security Council Sanctions list or OFAC (Office of Foreign Assets Control of the U.S. Treasury Department). Binance maintains the right to select its markets and jurisdictions to operate and may restrict or deny its services to certain countries. The content of this Agreement shall not be excluded from the laws of the country under which the user belongs. Binance maintains its stance that prohibited users are not to use or access Binance and any of its services,” the letter reads.

According to the terms of the agreement with the exchange, a user should not be listed on the sanctions lists of the UN Security Council or the Office of Foreign Assets Control (OFAC).

Following Iran

Earlier, Binance informed Iranian users that the exchange would stop their access to the trading platform due to the sanctions imposed by the United States. Access to the exchange will be lost not only by those users who have undergone the KYC procedure with an Iranian passport, but also all those who use Iranian IP addresses.

“If you have an account with Binance and fall into that [sanctions] category, please withdraw your assets from Binance as soon as possible,” reads an email received by Iranian users.