Binance, a peer-to-peer cryptocurrency exchange in Russia, has been accused of continuing to facilitate transactions through sanctioned banks like Rosbank, despite denying any relationships with banks. The exchange has renamed some of its payment options for withdrawals and deposits, such as Tinkoff and Rosbank, to terms like “Yellow” and “Green” cards. Binance P2P currently offers customers the use of “local cards” to sell cryptocurrencies like Tether USDT to Russian rubles and receive them on sanctioned Tinkoff or Rosbank.The Wall Street Journal reported that Binance offered Russian clients at least five sanctioned Russian banks, including Rosbank and Tinkoff, as options for processing payments. Binance executives denied any relationships with “any banks whatsoever, in Russia or elsewhere,” in relation to its P2P platform. The company stated that it follows global sanctions rules and denies access to the Binance platform to those who have been blacklisted by the international community.A recent video on the vDud YouTube channel, which has 10.3 million subscribers, featured an advertisement of Binance services, offering 5 USDT in exchange for signing up on the platform. The video also promoted Binance Earn, which allows users to earn passive income on crypto through a variety of products.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. Other major P2P crypto exchanges, including Huobi and OKX, also allow transfers with Tinkoff, Rosbank as well as Sberbank.Binance has not commented on the issue of renaming the sanctioned banks to “Yellow” and “Green” cards. Binance representatives declined to comment on either its ads on Dud’s YouTube channel or its current services in Russia.
| Information |
Details |
| Geography |
Europe |
| Countries |
🇺🇦 🇺🇸 |
| Sentiment |
neutral |
| Relevance Score |
9 |
| People |
Yuri Dud, Tinkoff, Rosbank, The Wall Street Journal, Binance. |
| Companies |
Binance, Tinkoff, Rosbank, The Wall Street Journal, European Council, United States, Department of Justice, Huobi, OKX, YouTube, vDud, Sberbank |
| Currencies |
Tether USDT, Bitcoin, Ethereum, Russian Rubles, USD. |
| Securities |
None |
