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Nearly 70,000 Issued Binance Refugee Crypto Card For Ukrainians

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Nearly 70,000 Issued Binance Refugee Crypto Card For Ukrainians

Thousands of Ukrainians have ordered a crypto card issued by the world’s leading digital asset exchange, Binance, for its users from the war-torn country. The card allows people displaced by the ongoing conflict with Russia to make payments and receive financial support.

Binance Announces Results From Efforts to Help Ukrainian Refugees

Between April 26 and June 10, almost 70,000 people have been issued the Binance Refugee Crypto Card, the largest coin exchange by trading volume unveiled to the crypto news outlet Forklog. The payment product was offered in April to support Ukrainians forced to leave their homes amid Russia’s military invasion of the country.

The card allows displaced Binance users from Ukraine to make or receive crypto transfers and pay at merchants in countries from the European Economic Area. With it, the refugees can also accept financial aid through Binance’s partners. The applications of 4,000 Ukrainians currently residing abroad have been approved with more than 1,700 already having received funds.

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Binance also participates in efforts to support internally displaced persons (IDPs) as part of a project launched together with the charitable foundations Palianytsia and Rotary Club Kyiv International. Large families and those with minor children, disabled, and elderly Ukrainians will benefit with priority.

These most vulnerable people will be able to rely on a monthly assistance in the amount of 75 BUSD ($75) for a period of three months, the report details. At its first stage, the initiative will help 5,000 IDPs with a budget of $1.2 million. Representatives of the exchange explained:

Initially, we were going to help people who were forced into the EU, were granted refugee status and really needed help. But in parallel, we decided to launch a pilot project to help those who remained in Ukraine.

Binance further revealed it’s closely cooperating with the Ukrainian Ministry of Digital Development to organize a course on online professions for Ukrainians who lost their jobs due to the war as early as this month. The exchange also emphasized it will continue to follow sanctions policies against Russia and ensure their implementation on its platform.

You can support Ukrainian families, children, refugees, and displaced people by donating BTC, ETH, and BNB to Binance Charity’s Ukraine Emergency Relief Fund.

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Binance, Binance refugee card, card, conflict, Crypto, crypto card, crypto exchange, Cryptocurrencies, Cryptocurrency, displaced, Exchange, initiative, program, project, Refugees, Ukraine, ukrainian, War

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What’s your opinion about the initiatives of the crypto industry in support of Ukrainians suffering from the war? Share your thoughts in the comments section below.

Lubomir Tassev

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Andreas Iniesta

Portuguese Football Legend Cristiano Ronaldo In NFT Partnership With Binance

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Portuguese Football Legend Cristiano Ronaldo In NFT Partnership With Binance

Cristiano Ronaldo, one of the world’s top-earning athletes, has entered into a partnership with Binance which gives his supporters a chance to join the footballer’s Web3 community. According to Ronaldo, his partnership with Binance is “going to change the non-fungible token (NFT) game and take football to the next level.”

Iconic Piece of Sports History

The Portuguese celebrity footballer, Cristiano Ronaldo, has announced his exclusive multi-year non-fungible token (NFT) partnership with cryptocurrency exchange Binance. According to a statement released by the crypto exchange, through the partnership arrangement, followers of the prolific footballer will have an opportunity to “own an iconic piece of sports history.”

Followers of Ronaldo, aka CR7, will also have the opportunity to join the 37-year-old footballer’s Web3 community. In a video shared via Binance’s Twitter handle, Ronaldo, who holds the record for most goals scored (117) while playing for a national side, spoke about his decision to join hands with the cryptocurrency exchange.

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“I’m delighted to announce my partnership with Binance. Together we are going to change the NFT game and take football to the next level and this is just the beginning,” said Ronaldo, one of the highest-paid athletes in the world.

Ronaldo’s Followers

Binance’s deal with the Ronaldo, who according to Forbes has more than 690 million followers across social media, is another effort by the exchange aimed at luring football fans to NFTs and Web3. Before partnering with CR7, Binance had previously engaged Andreas Iniesta, a Spanish football legend who as of November 2021, had 25.2 million Twitter followers and 38.1 million on Instagram.

However, after he tweeted about cryptocurrency trading with Binance, Spanish regulators warned Iniesta against encouraging his followers to invest in digital currencies.

What are your thoughts on this story? Let us know what you think in the comments section below.

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Terence Zimwara

Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route.

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Image Credits: Shutterstock, Pixabay, Wiki Commons, Shutterstock / Dmytro Larin

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Bank of Spain

Bank Of Spain Has Registered 17 Crypto Companies, Big Names Still Missing

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Bank Of Spain Has Registered 17 Crypto Companies, Big Names Still Missing

The Bank of Spain has already included 17 virtual asset service providers in its own registry, in which cryptocurrency exchanges and custody providers must be listed to operate, according to Spanish law. Three new companies were included last week, but big names in the crypto ecosystem are still not registered.

Bank of Spain Crypto Registry Reaches 17 Companies

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The registry of virtual asset service providers (VASPs) of the Bank of Spain reached a number of 17 companies last week, with the inclusion of three more crypto businesses. The registry added several exchanges and custody companies June, including Jobchain España, Jobchain Austria, Criptan Trade, Eurocoin Broker, Lemacoin Crypto Solutions, Bitpanda, and Vottun.

The registry of these companies has accelerated in June, with most of the cryptocurrency exchanges registering being local companies that want to be sure they are compliant with Spanish laws. Since the bank opened its registry last year, it has added several crypto companies, starting with Bit2me, which was approved in February. The registry now includes C.R. Tecnología y Finanzas, Bitcoininforme, Bit Base, Blox, Trade Republic Bank, Globalstar Technologies, Onyze Digital Assets, Bitgo Deutschland, and BTC Direct Europe, apart from the companies mentioned above.

The crypto registry is mandatory for crypto companies to operate in the country, and was created in a change to a Spanish law that now requires crypto companies to follow certain guidelines to prevent money laundering and terrorism financing.

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Big Names Still Missing

While the registry has been very successful with local companies, making them register their operations and implementing the compliance tools for money laundering purposes, the reception by bigger international exchanges has not been as successful. Names like Binance and other large exchanges are still out of the list and are part of a list of exchanges currently in regulatory limbo.

Binance, specifically, has been named in a gray list issued by the Bank of Spain that includes cryptocurrency exchanges operating in the country. The company was recently reprimanded by the CMNV, the securities watchdog of the country, that ordered Binance to stop offering cryptocurrency-related derivatives, including futures contracts, to Spanish users of its platform.

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According to reports, the company is already in talks to be included in the crypto registry of the Bank of Spain, but it has still not been approved by the central bank.

What do you think about the progress of the crypto registry of the Bank of Spain? Tell us in the comments section below.

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Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Binance

Binance Suspends Direct Deposits And Withdrawals In Brazil

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Binance Suspends Direct Deposits And Withdrawals In Brazil

Binance announced this week that the direct withdrawal and deposits were suspended in Brazil. The exchange issued a statement where it announced that this was the result of a change in the payments partner in the country and that it will be taking legal steps against it. However, the partner states that Binance did not adapt to provide the new KYC information required by Brazil’s central bank.

Binance Stops Real Related Movements

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Binance stopped real-based direct deposits and withdrawals in Brazil this week as a result of a change in its secondary payments provider. The exchange announced that it was making the necessary changes to fix this problem in the future to keep offering these services to its customers in Brazil. In a blog post explaining the situation, Binance stated:

[Binance] will promote a smooth transition in the coming weeks and that it is taking all necessary steps, including legal related to Capitual, to ensure that users are not adversely affected by the change.

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Furthermore, the exchange stated that Brazil was “an extremely relevant market for the company,” and that it would continue to invest and expand services in the country.

Capitual Answers

Capitual, the bank that provides payments services for Binance and other exchanges in the country, clarified that this situation had to do with the new requirements that the Central Bank of Brazil is asking from participants of its Pix payments platform. According to statements from Capitual, the bank updated its technological platform to adapt to these changes and asked its partners to adapt their platforms to these new changes too.

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The company stated:

The partner exchanges Kucoin and Huobi have adapted their systems to the changes that have taken place on the Capitual platform and the services provided to their users in transactions with reais happen regularly,

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This means that according to them, only Binance has failed to adapt its technological platform to comply with the new requirements asked by the central bank of Brazil. The bank concluded by stating that these requirements could not be sidestepped, with these being “mandatory for its operation and that of its commercial partners.”

Binance’s new payments partner will be announced soon, and the company just referred to it as a “local payment provider with extensive experience.” In the meanwhile, Binance is directing its users to alternative withdrawal and deposit methods. The exchange recently had to pause bitcoin (BTC) withdrawals globally due to hardware wallet failures on wallet consolidation.

What do you think about the suspension of withdrawals and deposits of Binance in Brazil? Tell us in the comments section below.

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Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

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