Starting Nov. 15, the Binance cryptocurrency exchange will stop accepting deposits in Russian rubles.
Withdrawals will continue until Jan. 31, 2024. Users with fiat balances in Russian rubles can transfer funds to CommEX for free, according to <a href="https://www.binance.com/en/support/announcement/updates-on-russian-ruble-rub-deposits-4abc5968ae0e45cda064cfa1bebc41c2" target="_blank" rel="noopener noreferrer nofollow">the announcement</a>.
At the same time, on Nov. 9, CommEX itself added a channel for replenishing and withdrawing funds from the exchange wallet in rubles and opened trading in the USDT/RUB pair on the spot market.
<blockquote class="wp-block-quote">
 “Register for a CommEX account or log into the CommEX account, and connect it to the corresponding Binance account. Once the connection is done, users may transfer their Russian rubles on Binance to CommEX.” <cite>Binance announcement</cite>
</blockquote>
Previously, Binance <a href="https://crypto.news/binance-to-axe-russian-ruble-payment-gateway/" rel="noopener noreferrer nofollow">terminated</a> its partnership with the Advcash payment system. According to some reports, the reason is that clients transferred funds from sanctioned Russian banks through this gateway.
The statement came after Binance <a href="https://crypto.news/breaking-binance-pulls-out-of-russia-selling-local-subsidiary-to-commex/" rel="noopener noreferrer nofollow">announced</a> in September that it was leaving the <a href="https://crypto.news/tag/russia/" data-type="link" data-id="https://crypto.news/tag/russia/" rel="noopener noreferrer nofollow">Russia</a>. The transition of existing users to the new platform and the disconnection process will take up to one year.
The new platform, CommEX, announced its launch the day before the official announcement of <a href="https://crypto.news/tag/binance/" data-type="link" data-id="https://crypto.news/tag/binance/" rel="noopener noreferrer nofollow">Binance</a>. New users who have completed the personal data verification procedure will be partially redirected to the CommEX platform.
You might also like: <a href="https://crypto.news/commex-struggles-to-attract-russian-clients-as-binance-exits/" rel="noopener noreferrer nofollow"> CommEX struggles to attract Russian clients as Binance exits </a>

Binance to stop accepting deposits in Russian rubles

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