Binance dubs barred Russian banks on its platform as ‘Yellow’ and ‘Green’ cards
1 min read
Binance’s peer-to-peer (P2P) cryptocurrency exchange in Russia has continued facilitating transactions through sanctioned banks like Rosbank after denying relationships with “any banks.”
On Aug. 23, multiple local news sources
The news comes months after the U.S. Department of Justice security division reportedly launched an investigation of Binance for allowing Russians to use the exchange in violation of U.S. sanctions.
Binance has not been the sole cryptocurrency exchange that has been facilitating such transactions in Russia, though. Other major P2P crypto exchanges, including Huobi and OKX, also allow transfers with Tinkoff, Rosbank as well as Sberbank at the time of writing. Huobi and OKX didn’t immediately respond to Cointelegraph’s request to comment.
Binance’s representatives declined to comment to Cointelegraph on either its ads on Dud’s YouTube channel or its current services in Russia. “Our comments are already reflected within the WSJ report. We won’t be commenting any further on this topic at this time,” a spokesperson for Binance said.
The firm didn’t immediately respond to Cointelegraph’s request to comment on the issue of renaming the sanctioned banks to “Yellow” and “Green” cards.
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