Binance Blocks Transactions With HTX and Other Exchanges Over EU Sanctions
Listen to the story
Binance is a big crypto company. It lets people buy and sell digital money online.
Now Binance will stop some transactions. A transaction is when money moves from one place to another.
Binance will block transactions with HTX and 10 other exchanges. An exchange is a place where people trade crypto.
This is because of new sanctions from the EU. Sanctions are rules that stop some business or trade.
The EU made these sanctions because of Russia. The sanctions are about Russia's actions.
Binance also made new rules for Russian users. This means some Russian people cannot use Binance in the same way as before.
News people say this shows Binance wants to follow the rules more carefully now.
This is called compliance. Compliance means following laws and rules.
Many governments watch crypto companies closely. They want companies to follow international rules.
Binance's new rules are part of this bigger change.
Vocabulary15 words
- crypto
- digital money used online
- transaction
- when money moves from one place to another
- exchange
- a place where people trade money or crypto
- sanctions
- rules that stop some business or trade
- EU
- a group of European countries working together
- Russia
- a large country in Europe and Asia
- compliance
- following laws and rules
- block
- to stop something from happening
- restriction
- a rule that limits what you can do
- digital money
- money that only exists online, not as paper or coins
- government
- the group of people who run a country
- international
- between different countries
- trade
- buying and selling things
- user
- a person who uses something, like an app or website
- law
- an official rule made by a government
Quiz
Answer key
1. A crypto company 2. Because of EU sanctions on Russia 3. True
Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
Binance is a big _____ company. It lets people buy and sell digital money online.
Now Binance will stop some _____. This is when money moves from one place to another.
Binance will block transactions with HTX and 10 other _____.
This is because of new _____ from the EU.
The EU made these sanctions because of _____.
Binance also made new rules for Russian _____.
News people say this shows Binance wants to follow the rules more carefully. This is called _____.
Many _____ watch crypto companies closely.
They want companies to follow _____ rules.
Binance's new rules are part of this bigger change.