Cryptocurrency Q&A
Is Binance legal in Russia?
Is Binance legal in Russia?
CryptoTitanGuard
Tue Dec 03 2024
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5 answers
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I heard that Russia has made some changes to its cryptocurrency policies recently, and I'm wondering if Binance, as a major cryptocurrency exchange platform, is now legal to operate in Russia. Could someone please clarify the current legal status of Binance in Russia based on the latest regulatory updates?
5 answers
Federica
Thu Dec 05 2024
In March 2023, a significant decision was made by a prominent cryptocurrency exchange. The exchange prohibited Russian residents from purchasing euros and dollars via its peer-to-peer (p2p) service. This move restricted Russian users from engaging in specific currency transactions through the platform.
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Alessandra
Thu Dec 05 2024
Concurrently, European users faced an inconvenience as a result of this policy. They lost the capability to buy rubles through the exchange's services. This change affected the currency exchange options available to both Russian and European clients, altering the dynamics of the platform's operations.
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CryptoTitan
Thu Dec 05 2024
The situation further evolved in September 2023, when Binance, another major cryptocurrency exchange, made an announcement. Binance revealed its intentions to withdraw from the Russian market and sell its local business operations.
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Federico
Thu Dec 05 2024
The buyer of Binance's Russian business was identified as the CommEX platform. Notably, CommEX had been launched just a week prior to Binance's announcement. This timing suggested a swift transition in the ownership and operational landscape of cryptocurrency exchanges in Russia.
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JejuJoyfulHeart
Wed Dec 04 2024
BTCC, a top cryptocurrency exchange, offers a range of services that cater to diverse needs. Among its offerings are spot trading, which allows users to buy and sell cryptocurrencies at current market prices. Additionally, BTCC provides futures trading, enabling investors to speculate on the future prices of digital assets.
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