Binance stops working with five Russian banks
The crypto exchange continues its work on the compliance process.Binance stops working with five Russian banksIs there a problem with Binance right now?Why is my Binance account temporarily disabled?Can I trust Binance?Why is Binance not letting me withdraw?Binance, the world's largest cryptocurrency exchange, will stop working with five Russian banks.Which banks does Binance use?What is Binance bank?Which bank accepts crypto?Can I use bank account with Binance?According to the news of The Wall Street Journal, the stock market made such a decision to comply with the sanctions.In an article published a few days ago in WSJ, there was an article about Russians using Binance to transfer money abroad. After this published article, the stock market decided to take action on the issue.The company's P2P service will no longer be available for users to send rubles to each other. Five Russian banks, which are subject to sanctions, were affected by this decision.Efforts to comply with sanctions continue
Speaking about the end of support for banks, a Binance spokesperson used the following statements on the subject:“We regularly update our systems to comply with local and global regulatory standards. After deficiencies are reported to us, we work to address and correct these deficiencies as soon as possible.”A spokesperson for the company noted that Binance's P2P platform will no longer include companies that do not comply with its compliance policies.The article published in the WSJ detailed how Binance enabled P2P ruble transactions for sanctioned banks, notably Rosbank and Tinkoff Bank. According to the messages seen by the sources, customers were able to convert and transfer these funds into balances on Binance.According to data from CCData, Binance continues to cover the bulk of the substantial ruble trades.The exchange said it had ceased operations in Russia last year and complied with the requirements of the sanctions.The WSJ believes that Binance's legal problems in the US may continue to increase due to its actions in Russia. The US Department of Justice continues to investigate Binance for a long-standing violation of sanctions against Russia.A Binance spokesperson said about the sanctions:"Binance aims to strictly comply with global sanctions rules. It imposes sanctions on individuals, organizations and countries that are blacklisted by the international community, preventing such individuals from accessing Binance."
The crypto exchange continues its work on the compliance process.Binance stops working with five Russian banksIs there a problem with Binance right now?Why is my Binance account temporarily disabled?Can I trust Binance?Why is Binance not letting me withdraw?Binance, the world's largest cryptocurrency exchange, will stop working with five Russian banks.Which banks does Binance use?What is Binance bank?Which bank accepts crypto?Can I use bank account with Binance?According to the news of The Wall Street Journal, the stock market made such a decision to comply with the sanctions.In an article published a few days ago in WSJ, there was an article about Russians using Binance to transfer money abroad. After this published article, the stock market decided to take action on the issue.The company's P2P service will no longer be available for users to send rubles to each other. Five Russian banks, which are subject to sanctions, were affected by this decision.Efforts to comply with sanctions continue
Speaking about the end of support for banks, a Binance spokesperson used the following statements on the subject:“We regularly update our systems to comply with local and global regulatory standards. After deficiencies are reported to us, we work to address and correct these deficiencies as soon as possible.”A spokesperson for the company noted that Binance's P2P platform will no longer include companies that do not comply with its compliance policies.The article published in the WSJ detailed how Binance enabled P2P ruble transactions for sanctioned banks, notably Rosbank and Tinkoff Bank. According to the messages seen by the sources, customers were able to convert and transfer these funds into balances on Binance.According to data from CCData, Binance continues to cover the bulk of the substantial ruble trades.The exchange said it had ceased operations in Russia last year and complied with the requirements of the sanctions.The WSJ believes that Binance's legal problems in the US may continue to increase due to its actions in Russia. The US Department of Justice continues to investigate Binance for a long-standing violation of sanctions against Russia.A Binance spokesperson said about the sanctions:"Binance aims to strictly comply with global sanctions rules. It imposes sanctions on individuals, organizations and countries that are blacklisted by the international community, preventing such individuals from accessing Binance."
