Binance Contemplates Full Exit from Russia Amidst Regulatory Challenges

Cryptocurrency exchange Binance is considering the possibility of withdrawing from the Russian market, as reported by The Wall Street Journal (WSJ), citing a company representative.

According to the August 28th report by The Wall Street Journal, the Binance representative stated that the exchange is exploring all options concerning Russia, including a complete exit.

Last week, WSJ reported that Binance was assisting Russians in moving money abroad, despite the company's previous claims of complying with Western sanctions and limiting trading on its platform in Russia. Subsequently, Binance restricted P2P trading involving Russian banks subjected to sanctions.