Binance considers exit from Russia following sanction violations
The world’s largest crypto exchange is reportedly reevaluating its business in Russia. One of the options on the table is a full withdrawal from the Russian market. Potential for a full exit According to the Wall Street Journal, a spokesperson from Binance shared that all options are on the table, which includes the possibility of the platform to make a full exit from the Russian market. Although Binance has acknowledged their previous failures in compliance, they have also claimed that they changed their ways and are serious about follow ing the rules. Binance has since moved to limit its Russia trading service, telling platform users that they can’t exchange digital tokens for currency other than rubles. You might also like: Binance suspends P2P transactions with sanctioned Russian banks At present, Binance isn’t the only exchange operating in the country; other cryptocurrency trading platforms include OKX, ByBit, Gate.io, and KuCoin, among others. The sanction viol...