In concordance with US sanctions, Binance has excluded all Zimbabwean citizens, no matter their residency, from their services
Any holder of Zimbabwean citizenship will be excluded from Binance services from now on. Upon notification, users affected by this ban will have a waiting period of three days to withdraw their crypto funds, before their accounts are permanently destroyed. Prior to this step, residents of Zimbabwe had already been banned from services, however the restrictions were easily circumnavigated by using a foreign VPN.
The Maltese based platform provider has faced harsh criticism for this move, with a public explanation by Binance missing.
Recently appointed CEO of the US division, Brian Brooks, formerly a US bank regulator, is apparently the responsible head to follow strict measures by the US Office of Foreign Asset Control. A plausible explanation could be the investigation of Binance by the US Department of Justice, to which they might be signalling new will to cooperate on US government’s sanction policies.
US sanctions on Zimbabwe have been in place since 2003, with systematic state violence by the government of Zimbabwe being the justification.
Next up: Malta Week
Don’t miss out on amazing networking opportunities and exclusive industry insights at Malta Week. Four leading shows will bring the best of the business back-to-back to a first-class meeting point. Malta Week will consist of SiGMA, AIBC, Med-Tech World and AGS, each presenting the top developments of their focal industries.
The cross-collaboration of each brand make Malta Week the number one destination for leading think-tanks of the gaming sector, emerging tech, digital health and digital marketing. The middle of the Mediterranean is the perfect place for multi-faceted business deals and face-to-face conversations with leading affiliates, policy makers and thought leaders.