Breaking News: Crypto Exchange Binance Decides to Leave Russia?

Crypto News – According to a Wall Street Journal story, Binance, the biggest cryptocurrency exchange in the world, is reassessing its operations in Russia due to regulatory dangers there.

Breaking News: Crypto Exchange Binance Decides to Leave Russia?

According to a representative for Binance, the exchange is considering all of its options for its business in Russia, including a complete exit from the market. In this direction, five sanctioned Russian lenders that had previously allowed users to send each other rubles using Binance’s peer-to-peer service were removed from the platform earlier this week.

Legal Issues in Russia Affect Binance

The Journal revealed this week that Binance was assisting Russians with money transfers abroad. According to a May Bloomberg story, that report followed the US Justice Department’s inquiries into whether Russians had used Binance to circumvent US sanctions.