Huobi and KuCoin, the two largest cryptocurrency exchanges in the world, did not prevent Russian banks from using their platforms under Western sanctions. This was reported by the American newspaper Policy Citing the report of the analytics company Inca Digital.
The material says Seychelles-based crypto exchanges Huobi and KuCoin allow traders to transact with debit cards issued by sanctioned banks from the Russian Federation.
“None of these crypto exchanges accept funds from blacklisted banks, but some do allow users to use accounts at sanctioned institutions,” the article states.
In turn, Singapore exchange ByBit allows site users to convert Russian rubles to cryptocurrency. Thus, Russians can buy cryptocurrency on the exchange after depositing fiat money through an online wallet or bank card, including any card issued in the Russian Federation.
Formerly Binance Crypto Exchange suspended All bank transfers are in USD.