Binance suspends P2P services related to sanctioned Russian banks

Odaily News: Binance's P2P service will no longer list five Russian banks under sanction on its website. A spokesperson from Binance stated, "We regularly update our systems to ensure compliance with local and global regulatory standards. When vulnerabilities are identified, we seek to address and remedy them promptly. Payment methods that do not conform to our compliance policies are unavailable on our P2P platform." (The Wall Street Journal)



Prior to this, it was reported that Binance's handling of a large number of ruble transactions may have violated global sanction requirements. A recent review of Binance's C2C service website revealed that Binance had offered at least five sanctioned Russian banks (including Rossbank and Tinkoff Bank) as payment options for Russian customers.