{"id":57809,"date":"2023-08-25T15:01:26","date_gmt":"2023-08-25T19:01:26","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=57809"},"modified":"2023-08-25T15:01:28","modified_gmt":"2023-08-25T19:01:28","slug":"binance-ends-relations-with-sanctioned-russian-banks","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/binance-ends-relations-with-sanctioned-russian-banks\/","title":{"rendered":"Binance Ends Relations With Sanctioned Russian Banks"},"content":{"rendered":"\n<p>Binance servers ties with sanctioned <a href=\"https:\/\/coinscreed.com\/staging\/apple-pay-to-end-support-for-russian-banks.html\" target=\"_blank\" rel=\"noreferrer noopener\">Russian banks<\/a> amidst allegations of facilitating fund transfers; the company denies claims.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"768\" src=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/08\/LP-1024x768.webp\" alt=\"\" class=\"wp-image-57814\" srcset=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/08\/LP-1024x768.webp 1024w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/08\/LP-300x225.webp 300w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/08\/LP-768x576.webp 768w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/08\/LP-750x563.webp 750w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/08\/LP-1140x855.webp 1140w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/08\/LP.webp 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Binance Ends Relations With Sanctioned Russian Banks<\/figcaption><\/figure>\n\n\n\n<p>According to the Wall Street Journal, Binance, the leading cryptocurrency exchange, has ceased peer-to-peer operations with several sanctioned Russian institutions. <\/p>\n\n\n\n<p>This action is viewed as an effort to distance itself from allegations that have surfaced, highlighting its potential involvement in facilitating the movement of funds for Russians in the face of heightened global scrutiny.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-legal-difficulties-for-binance-due-to-russia\">Legal Difficulties For Binance Due to Russia<\/h2>\n\n\n\n<p>Following the beginning of Russia's offensive in Ukraine, Binance announced a reduction in its Russian operations following the stringent sanctions regime of the European Union. However, this assertion's veracity has been questioned.<\/p>\n\n\n\n<p>The <a href=\"https:\/\/www.wsj.com\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Wall Street Journal (WSJ)<span class=\"wpil-link-icon\" title=\"Link goes to external site.\" style=\"margin: 0 0 0 5px;\"><svg width=\"24\" height=\"24\" style=\"height:16px; width:16px; fill:#000000; stroke:#000000; display:inline-block;\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:svg=\"http:\/\/www.w3.org\/2000\/svg\"><g id=\"wpil-svg-outbound-7-icon-path\" fill=\"none\" clip-path=\"url(#clip0_31_188)\">\r\n                            <path d=\"M9.16724 14.8891L20.1672 3.88908\" stroke-linecap=\"round\"\/>\r\n                            <path d=\"M13.4497 3.53554L20.5208 3.53554L20.5208 10.6066\" stroke-linecap=\"round\" stroke-linejoin=\"round\"\/>\r\n                            <path d=\"M17.5 13.5L17.5 16.26C17.5 17.4179 17.5 17.9968 17.2675 18.4359C17.0799 18.7902 16.7902 19.0799 16.4359 19.2675C15.9968 19.5 15.4179 19.5 14.26 19.5L7.74 19.5C6.58213 19.5 6.0032 19.5 5.56414 19.2675C5.20983 19.0799 4.92007 18.7902 4.73247 18.4359C4.5 17.9968 4.5 17.4179 4.5 16.26L4.5 9.74C4.5 8.58213 4.5 8.0032 4.73247 7.56414C4.92007 7.20983 5.20982 6.92007 5.56414 6.73247C6.0032 6.5 6.58213 6.5 7.74 6.5L11 6.5\" stroke-linecap=\"round\"\/>\r\n                        <\/g>\r\n                        <defs>\r\n                            <clipPath id=\"clip0_31_188\">\r\n                                <rect fill=\"white\" height=\"24\" width=\"24\"\/>\r\n                            <\/clipPath>\r\n                        <\/defs><\/svg><\/span><\/a> and the Russian Central Bank provide contradictory data sources. Despite Binance's announcement, records demonstrate that ruble trading continues on its platform. Over six months, the average monthly volume of peer-to-peer transactions between Russian entities was $428 million.<\/p>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-28f84493 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:100%\">\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>The current system in place at Binance is under the lens for its possible multi-layered intermediaries, which might facilitate sanctioned Russian organizations in converting their funds into Binance balances.<\/p>\n<\/blockquote>\n<\/div>\n<\/div>\n\n\n\n<p>As payment options, Binance's peer-to-peer platform reportedly included several sanctioned Russian banks, including Rosbank and Tinkoff Bank. The United States Treasury Department is notably alarmed, viewing these numbers as potential avenues for circumventing sanctions.<\/p>\n\n\n\n<p>Despite these concerns, Binance continues to defend itself resolutely. A spokesperson refuted these allegations, emphasizing the exchange's strict adherence to global sanctions and categorically denying any ties to Russian institutions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Binance servers ties with sanctioned Russian banks amidst allegations of facilitating fund transfers; the company denies claims. According to the Wall Street Journal, Binance, the leading cryptocurrency exchange, has ceased peer-to-peer operations with several sanctioned Russian institutions. This action is viewed as an effort to distance itself from allegations that have surfaced, highlighting its potential [&hellip;]<\/p>\n","protected":false},"author":53,"featured_media":57814,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21,834],"tags":[5521,5519,5664],"class_list":["post-57809","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-binance","tag-binance-2","tag-russia-2","tag-sanctions-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/08\/LP.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/57809","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/53"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=57809"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/57809\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/57814"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=57809"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=57809"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=57809"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}