Binance, the world’s largest cryptocurrency exchange, is weighing its options in relation to the Russian market, including the possibility of a full withdrawal. This information comes from a report published by Wall Street Magazine, quoting a Binance representative.
The spokesperson indicated that all options remain on the table, including the potential exit from Russia.
Additionally, the company has restricted Russian users from exchanging tokens for currencies other than the ruble. Since August 26, Binance has blocked P2P trades in all currencies except the ruble for Russian customers who have not completed KYC verification, a move reported by socialbites.ca from sources in Russia. A Russian user who spoke to the portal confirmed that they can no longer conduct P2P transactions using foreign currencies.
In separate regulatory developments, the United States Department of Justice is examining Binance to determine whether the platform could be used by Russian citizens to bypass sanctions and move funds. The investigation is being led by the department’s national security division. The agency has indicated that the inquiry aims to determine if Binance or its officers violated sanctions against Russia.
Earlier, the US Treasury expanded sanctions against Russia, intensifying pressure on entities operating within or connected to the country.