Binance
LeaveRussia detail: Scaling Back
Binance cryptocurrency exchange - the worlds biggest bitcoin exchange and altcoin crypto exchange in the world by volume.
Business in Russia
The world's largest cryptocurrency, Binance, said it did not exit the Russian market because there are no "global sanctions" against it. Binance Discontinues Support for Peer-to-Peer (P2P) Payment through five approved Russian banks. The news follows reports that the company’s P2P crypto exchange failed to enforce international sanctions against some banks. Cryptocurrency exchange Binance said it will sell its Russia business to newly-launched exchange CommEX, becoming the latest company to pull out of Moscow since the country began its war against Ukraine. Binance pulls the plug on Russian Ruble: delisting confirmed by January 30, 2024.
Decision trail
Decision date 26/09/2024 · Reference ↗
Initially restricted Russian accounts with over €10,000. Binance has banned Russians, as well as any individuals living in Russia, from buying and selling dollars and euros through its P2P service. But later Crypto exchange Binance removed the limit of 10,000 euros for the accounts of Russians. Binance has returned the possibility of paying deposits with Russian cards. Customers of the Binance crypto exchange from Russia can now replenish deposits from Qiwi wallets and through bank cards issued in Russia. Russian users of the Binance bitcoin exchange will be able to withdraw funds if the company leaves the country. Binance fully exits Russia after sale deal with startup CommEX. Binance asked users from Russia to close positions by December 29th, 2023. The crypto exchange has sent out the latest reminders to Russian clients about the need to migrate their accounts and withdraw funds. The world's largest crypto exchange, Binance, announced that it is in negotiations with several platforms about the sale of its Russian business and is looking for a new buyer to replace CommEX, which announced its intention to cease operations. Cryptocurrency exchange Binance still serves some Russian clients despite announcing a complete exit from Russia in 2023. “We continue to serve a limited number of existing Russian users to ensure their digital assets remain safe and secure,” a spokesperson for Binance told Cointelegraph on Sept. 25, 2024.
Status history since 2022
- 03/08/2026 — scaling back · Imported from KSE LeaveRussia
Exposure profile
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