The world’s leading cryptocurrency exchange, Binance, faces allegations surrounding its operational ties in Russia, according to a report from the Wall Street Journal. Claims suggest Binance’s pullback from the region might be less extensive than initially believed, following an investigation by the U.S. Department of Justice starting in May 2023.

After Russia started its war on Ukraine, Binance confirmed a reduction in its Russian operations, complying with European Union sanctions:

“Russian nationals or natural persons residing in Russia, or legal entities established in Russia, with open Futures/Derivatives positions, and who have crypto account balances that exceed 10,000 EUR will be given 90 days to close out their positions.”

Yet, data paints a different picture.

Despite records emerging figures that reveal a persistent ruble trading presence on its platform, peer-to-peer trades by Russians, averaging a monthly $428 million over a six-month period, have been recorded by the Russian Central Bank, according to the WSJ.

Such figures are impossible to sideline, given the potential they hold in sanctions evasion, a concern caught by the U.S. Treasury Department.

Sheesh.

$428 million/month of P2P Ruble-to-crypto.

$8 BILLION/month of Ruble-to-crypto trading on the main exchange.

If you think the US govt isn’t going to drop the ha

Go to Source to See Full Article
Author: Emily Tonelli

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details