While battling regulatory scrutiny in the US and facing lawsuits from the US SEC, Binance runs into another potential hurdle and struggles with accusations that may see the crypto exchange permanently withdrawing all operations in Russia.
Binance Contemplates Leaving Russian Markets For Good
Binance, the company that operates the largest cryptocurrency exchange by trading volume, has found itself in another regulatory predicament and has stated that it is currently deliberating discontinuing its crypto business operations in Russia.
Reports have claimed that Binance has been assisting Russians in moving funds abroad. According to the Wall Street Journal, the exchange has seemingly been aiding excommunicated Russian lenders to transport money through peer-to-peer transactions on its platform.
In response to regulatory pressures, Binance has permanently canceled five sanctioned leading Russian banks that were previously available in its P2P service, which allowed Russian users to tra
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