Bitcoin exchange Binance has been blacklisted by regulators in Russia. According to sources such as ForkLog, Roskomnadzor sent a notification to Binance regarding cryptocurrency activities on the exchange and stated that the exchange would blacklist the site for these activities. Binance plans to oppose the statement sent by Roskomnadzor.
Russia’s regulator Roskomnadzor has now turned to Binance after blacklisting the websites of companies such as Localbitcoins and Coinpost. Binance, the largest Bitcoin exchange, received a notification from Roskomnadzor that its site would be blocked. Binance announced this announcement on the Telegram channel.
Appeals to the Decision
Binance seems determined to continue its operations in the Russian market despite this announcement. According to the ForkLog report, Binance said in a statement to its users in Russia that it has received such a message from regulators in the country for the first time. Binance is therefore preparing to appeal against the notification that its site will be blacklisted. Gleb Kostarev, Managing Director of Binance Russia, said:
“We attach great importance to our position in the Russian market. We will appeal to the regulator’s statement in court. Meanwhile, we will try to turn to alternative technologies. In the meantime, we will share every step we take with our users in Russia. ”
Opposes Cryptocurrency Sales
Roskomnadzor plans to blacklist Binance as cryptocurrency is sold on the company’s site. In the notification sent by the regulator, a different detail was not shared regarding the relevant decision. However, Binance employees remind that the exchange has operated smoothly so far. “Why has such a decision been made now?” brings the question.
Russia adopted a draft on Digital Assets at the end of this summer. However, this bill did not soften the attitude of regulators in the country towards cryptocurrencies. The Ministry of Finance wants to make some changes in the draft, especially regarding cryptocurrency miners. In the meantime, it is not known whether a new decision will be made regarding crypto money exchanges.