Binance Considers Full Exit from Russia, WSJ Reports

Binance, the world's largest cryptocurrency exchange, is reviewing its business in Russia and may fully exit the market. This was reported by a spokesperson for the exchange to The Wall Street Journal on the condition of anonymity.

“All options are being discussed, including a complete exit,” the spokesperson stated to WSJ.

On August 26, Binance restricted trading of any currencies for Russian users through Binance P2P, excluding the ruble. This applies to customers who have undergone Know Your Customer (KYC) verification in Russia.

This decision follows a WSJ article reporting that Binance still supports cards from sanctioned banks such as Sberbank and Tinkoff, rebranding them as “green local card” and “yellow local card.”