Binance will stop all transactions with rubles after January 31 – Kommersant
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Crypto exchange Binance announced that it will stop all transactions in rubles from January 31, 2024. All rubles remaining on the balances of Binance users will be automatically converted into FDUSD stablecoins at the current rate, the company warned.
As stated in the message on website trading platform, the cessation of ruble operations is associated with the decision to leave Russia by selling the local business to the CommEX exchange. Binance called on all Russian users to convert ruble assets on the platform into others available on the exchange, exchange them for cryptocurrency, or withdraw them from the platform through its partners by January 31.
On September 27, 2023, Binance officially announced its withdrawal from Russia. In the same month, the exchange announced the sale of the Russian business to CommEX. From January 31, the exchange will also stop supporting P2P transactions (transactions between users) with the ruble, but clients will be able to conduct transactions with the ruble on CommEX. To do this, you need to link your Binance account to your CommEX account. Also the exchange asked Russian clients must withdraw all their money by December 29, 2023.
Details are in the Kommersant FM article. “Ruble deposits are left without support”.
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