Binance accused of hiding names of sanctioned Russian banks behind color codes

2023-8-25 20:30

Binance reportedly renamed sanctioned Russian banks on its peer-to-peer (P2P) platform to allow them to continue operations, local media RBC-Crypto reported on Aug. 23.

According to the report, Binance renamed the bank cards for Sber and Tinkoff to “green” and “yellow” local cards on its payment options for P2P trading.

Through its P2P services, Binance users can trade between themselves and process payments via banks despite the strict Western sanctions imposed on the country’s financial system.

Earlier in the week, the Wall Street Journal revealed that Binance has continued to enable several sanctioned Russian banks, including Sber and Tinkoff, to conduct transactions on its platform. The exchange, however, denies having any relationship with the banks and claims it complies with the global sanctions.

Meanwhile, the new revelation could further complicate things for Binance, which is already struggling with regulators in several Western countries. It could even provide further ammunition for the U.S. Department of Justice, reportedly investigating Binance and its CEO, Changpeng Zhao, for violating anti-money laundering laws.

As of press time, Binance was yet to respond to CryptoSlate’s request for comment.

Russian company creates blockchain service for international payments

In a separate development, a Russian blockchain company Web3Tech launched a platform to enable international payments through cryptocurrencies, RBC-Crypto reported on Aug. 24.

According to its website, the platform would reduce Russia’s financial system’s dependence on SWIFT as it can process local and international payments. The website further shows that the platform could work with other public blockchains as it creates circulation smart contracts and bridges for transferring popular cryptocurrencies such as Tether’s USDT and USD Coin.

Russia’s financial system has come under heavy pressure since the country invaded its neighbor, Ukraine, last year. Since then, the Russian government has increasingly leaned towards using crypto and central bank digital currencies (CBDCs) for international payments.

The post Binance accused of hiding names of sanctioned Russian banks behind color codes appeared first on CryptoSlate.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Binance Coin (BNB) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $562.5
Капитализация $0 Rank 99999
Цена в час новости $ 217.62 (-100%)

binance local renamed p2p cards russian sanctioned

Источник: cryptoslate.com

binance local → Результатов: 126


Binance Adds 15 New Instant Fiat-to-Crypto Conversions With Simplex Partnership

Trying to corner local markets, the Malta-based crypto exchange Binance has added support for 15 more fiat currencies through the integration with Simplex. Gateways for currencies like the Korean won, the Swiss franc, the Polish zloty, the South African rand and the Australian dollar have been created and made available through the exchange’s fiat-to-crypto trading […]

2020-2-14 19:06


Фото:

Russians Can Use Qiwi, Sberbank, Yandex Money and Now Binance P2P Exchange to Buy Bitcoin With Rubles

A growing number of platforms allow Russian residents to purchase cryptocurrencies with local fiat money. Established cryptocurrency exchanges are not the most trouble-free option, however, as they often require extensive registration and rarely support popular payment methods in the region, unlike small online exchangers and peer-to-peer platforms.

2020-2-13 02:10


Binance prioritizing onboarding of 'local currency access into global-crypto markets'

Binance, one of the world's largest cryptocurrency exchanges, has been on a high-speed lane in terms of development and expansion, with no signs of return anytime soon. One of the biggest moves made bThe post Binance prioritizing onboarding of 'local currency access into global-crypto markets' appeared first on AMBCrypto.

2020-1-15 15:00


Ukrainian Government Official: Bittrex Wanted to Help Develop Country’s Crypto, Exchange Denies It

A Ukrainian government official Alexander Bornyakov who serves as the Deputy Minister of Digital Transformation recently told a local daily that right after the announcement about them joining hands with Binance to help them develop their crypto reforms and regulations, they started receiving calls from other exchanges with similar offers. The officer claimed that two […]

2019-11-27 21:30


WeChat Bans Bitcoin, Binance CEO Explains Why It’s Bullish for Crypto

By CCN: Always the optimist, Binance CEO Changpeng “CZ” Zhao sees a silver lining in the wake of WeChat’s recent ban on crypto trading activities. According to a tweet today by Dovey Wan, founding partner of Primitive Ventures, the Chinese social media company released an updated payment policy which states that it will terminate merchant accounts that participate in cryptocurrency transactions.

2019-5-8 22:45


Фото:

Global Cryptocurrency Exchanges Cut Ties With Iran After New US Sanctions

A number of cryptocurrency exchanges have reportedly cut ties with Iran after the U. S. imposed tougher economic sanctions against the Islamic Republic. Sepehr Mohammadi, head of Iran’s Blockchain Community, told local media that Binance and Bittrex are some of the platforms to have unofficially dropped Iran from the list of supported countries to receive services.

2018-11-7 06:00


Фото:

Binance To Launch FIAT To Crypto Exchange In Liechtenstein

Liechtenstein is one of the smallest countries in the world. With a population of 32,000 and an area covering just 62 square miles, Liechtenstein is a country with a lot of character. It’s also the world’s leading manufacturer of false teeth and now the new home of Binance LCX, a partnership between leading cryptocurrency exchange Binance and the Liechtenstein Cryptoassets Exchange (LCX), in a move that hopes to bring citizens in Liechtenstein the opportunity to access a local, but leading FIAT-Crypto exchange.

2018-8-17 13:30


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Russia’s Legislative Body Considers Diving Into Crypto – Will They Mine Or Maul It?

Russia is dipping its toes into the world of cryptocurrency with a proposed bill aimed at legalizing and regulating crypto mining within its borders. The bill, submitted to the State Duma, the lower house of parliament, seeks to strike a balance between encouraging this new industry and mitigating potential risks. Related Reading: David Vs. Goliath? […]

Russia pilots new system for tracing crypto-to-fiat links

Russia’s central bank and Rosfinmonitoring pilot a new system to trace connections between crypto transactions and fiat operations. The Bank of Russia alongside Rosfinmonitoring, the country’s main body for financial intelligence, is working on a platform to detect connections between…