Odaily Planet Daily News Binance is re-evaluating its business in Russia. A spokesperson said: "All options are currently under consideration, including a full exit."
Binance took action on Monday to further restrict its Russian peer-to-peer trading service, informing local users that they cannot exchange cryptocurrencies for currencies other than the ruble. (Wall Street Journal)
The Wall Street Journal reported last week that Binance had recently processed a large number of ruble transactions, which may have violated global sanctions. A recent review of the Binance C2C service website revealed that Binance recently offered Russian customers at least five sanctioned Russian banks (including Ross Bank and Tinkoff Bank) as options for processing payments.
Shortly thereafter, the Binance P2P service no longer listed the five sanctioned Russian banks on its website. A spokesperson for Binance said: “We regularly update our system to ensure compliance with local and global regulatory standards. When vulnerabilities are pointed out, we will seek to resolve and remedy them as soon as possible. The payment method for our compliance policy is not available."