Binance shuts down Eastern European accounts

29 Nov, 2018 | Updated: 29 Nov, 2018
by Alberto Arnaldo
Breaking News
Binance shuts down Eastern European accounts

Several users of Binance have complained in the last hours about having their accounts shut down. It seems like Serbia is the country with most affected users, but citizens from Bosnia and Herzegovina and Belarus are also reporting the same issue.

Only a couple of weeks after Iranians received notifications to withdraw their funds from the Malta-based exchange, it seems like Binance is now shutting down users from several Eastern European countries. Many of them received a message such as this one when trying to log in:

The first complains arrived to social media a week ago. As the first Serbian Twitter user reports, who seemingly had completed the optional KYC process, he received a message requesting him to withdraw his funds.

However, it seems that in the days that followed, the process of shutting down accounts was reconsidered or at least temporarily stopped, given that the rhythm of complains seemed to slow down, and also according to this tweet:

In the last 24 hours, the crackdown appears to have extended to many more users, judging from social media complains. Serbians were predominantly affected, judging from their large presence amongst protestors in Twitter and Reddit.

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Some Serbians pointed out to the possibility of the ban being induced by sanction lists that include the country, just like it recently happened with Iran. Regardless, they were not the only ones affected on this shutdown season. Users with a Belarusian IP address also seem to be not welcomed anymore into Binance:

As we mentioned, the ban appears to extend as well to Bosnia-Herzegovina:

Moreover, it seems as if there are other possible affected countries, even outside of Europe:

It seems as if this regional crackdown might be related to compliance with financial regulation in these countries, more than to sanction lists. But just as in the case of Iran, sadly the hardest blow will be taken by common users.

Read more: Iran turns to crypto while Binance pushes Iranians off exchange

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