Crypto exchange Binance considers exiting Russia amid increased scrutiny over its services for users in the sanctioned nation. The news of the potential move comes after the exchange delisted several sanctioned Russian banks from its peer-to-peer (P2P) platform and restricted fiat payment options for Russian traders.
Full Russia Exit Is on the Table, Binance Representative Says
The world’s leading exchange for digital assets, , is currently reevaluating its Russian business, the Wall Street Journal reported. The process includes the possibility of a full withdrawal from what was an important market for the crypto giant. A spokesperson for the company told the publication:
All options are on the table, including a full exit.
The statement comes after a WSJ article suggested last week that Binance is facing legal risks over allegedly helping Russians move money abroad despite the platform claiming it has been abiding by Westerns sanctions rules since last year.
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