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The new development comes a day after CommEX officially launched on September 26, 2023. Binance, the world’s largest cryptocurrency exchange, has exited the Russian market, selling its business operations to CommEX, a digital assets trading platform. While Binance did not disclose the financial terms of the deal, the company assured its Russian
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Binance is set to fully exit the country with the sale and will have no ongoing revenue split, it said Wednesday. Source
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Binance, a renowned cryptocurrency exchange, is embroiled in controversy as recent reports suggest a possible helping hand to Russia amidst Western sanctions. The story unravels with connections to blacklisted Russian lenders, contradicting public statements, and the shifting regulatory landscape. As dawn breaks over the world of crypto, murmurs seep into daylight,
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Anatoly Aksakov, head of Russia’s Banking Committee, believes that the digital ruble could potentially render traditional banking institutions obsolete. In a discussion at the AiF.Media club, Aksakov opined that the evolving landscape of financial technology could reduce
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Currently, the central bank of Russia has not made it possible to get a loan in digital rubles, but Askakov believes this will change "because it will be faster and, perhaps, more efficient." If that happens, banks will not be needed at all, Askakov added. Source
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Central bank digital currencies (CBDCs) and blockchain technology are likely to displace traditional banks, according to a Russian lawmaker.Anatoly Aksakov, head of Russia’s parliamentary financial committee and a major skeptic of Bitcoin (BTC), has predicted that the traditional banking system will “fade away” with the adoption of the digital ruble,
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While the sum involved in this sanction violation might appear insignificant, it highlights the industry’s ongoing struggle to prevent breaches following global geopolitical events. British financial technology giant Wise Plc (LON: WISE) has found itself entangled in controversy after unintentionally allowing an individual on the Russian sanctions list to withdraw money.
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Cryptocurrency exchange Binance may be considering withdrawing its services from Russia amid sanctions from countries including the United States.According to an Aug. 28 report from The Wall Street Journal, a Binance spokesperson said the exchange was considering all options in regards to Russia, “including a full exit”. The report followed
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Cryptocurrency exchange Binance continues introducing more restrictions for Russian customers on its peer-to-peer (P2P) trading platform.Binance P2P has banned Russian residents from using fiat currencies other than the Russian ruble, Binance announced on its Telegram channel on Aug. 27.Binance’s Russian clients residing outside the country have also been banned from
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At least two major crypto exchanges followed Binance in excluding Russian banks under international financial sanctions from their payment options. Tinkoff Bank and Sberbank are no longer available on the list of P2P transactions on ByBit and OKX. According to Russian media, local users can no longer receive fiat money in
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