Ethereum

Richard

Bitcoin

The world’s largest <a href="https://coingape.com/blog/binance-exchange-review/" target="_blank" rel="noopener noreferrer nofollow">crypto exchange Binance</a> on Monday said it will end support for the Russian Ruble (RUB) P2P trading pairs in January-end including Bitcoin and Ethereum. The move comes after Binance entered into an agreement to sell the entirety of its newly established Russia business to CommEx amid rising regulatory pressure.
<h2 id="binance-to-discontinue-russian-ruble-rub-support-on-p2p">Binance To Discontinue Russian Ruble (RUB) Support on P2P</h2>
According to an official <a rel="noopener noreferrer nofollow" href="https://www.binance.com/en/support/announcement/notice-regarding-the-discontinuation-of-russian-ruble-rub-support-on-binance-p2p-3016096ace174be381fa22b6636e2c5f" target="_blank">announcement</a> on December 11, Binance revealed ending P2P support for the Russian Ruble (RUB) trading pairs starting from January 31, 2024 at 00:00 (UTC).
Binance will remove P2P trading pairs such as USDT/RUB, BTC/RUB, FDUSD/RUB, BNB/RUB, ETH/RUB, BUSD/RUB and RUB/RUB. This is part of its<a href="https://coingape.com/binance-to-cease-russian-ruble-rub-deposits-following-russia-exit-plans/" target="_blank" rel="noopener noreferrer nofollow"> exit from Russia</a> and selling the business to CommEX. However, the off-boarding process will take up to one year.
Users can continue P2P trading with Russian Ruble (RUB) free of charge on CommEX. Also, users may withdraw their Russian rubles through Binance’s fiat partners before the deadline provided by the crypto exchange or convert their RUB into crypto via Binance Convert. This can be done after connecting Binance account after registering on CommEX.&nbsp;
In November, Binance started removing <a href="https://coingape.com/binance-to-remove-xrp-eth-ada-matic-sol-and-15-other-crypto-in-rub-pairs/" target="_blank" rel="noopener noreferrer nofollow">major crypto in RUB pairs</a> such as ETH, BNB, XRP, ADA, SOL, MATIC, LTC, DOT, and BUSD. In addition, the exchange removes ALGO/RUB, ARB/RUB, ARKM/RUB, ARPA/RUB, NEAR/RUB, and WLD/RUB pairs.
Also Read: <a href="https://coingape.com/crypto-market-selloff-heres-why-btc-eth-xrp-prices-fell-sharply-today/" target="_blank" rel="noopener noreferrer nofollow">Crypto Market Selloff — Here’s Why BTC, ETH, XRP Prices Fell Sharply Today</a>
Binance announced its exit from Russia amid regulatory challenges and a U.S. DOJ investigation into money laundering and sanction violations. Changpeng Zhao stepped down from the CEO position after <a href="https://coingape.com/breaking-binance-ceo-resigns-as-part-of-doj-settlement/" target="_blank" rel="noopener noreferrer nofollow">Binance’s $4.3 billion settlement</a> with the U.S. authorities.
Binance’s new CEO <a href="https://coingape.com/binance-ceo-richard-teng-discloses-comprehensive-plan-for-crypto-exchange/" target="_blank" rel="noopener noreferrer nofollow">Richard Teng</a> revealed a comprehensive plan, maintaining Binance’s dominance in the crypto market and core values. He plans to commit the next few weeks to interviews, events, AMA sessions, and more.
Also Read: <a href="https://coingape.com/xrp-lawyer-dogecoin-founder-slam-wikipedia-jimmy-wales-over-bitcoin-comment/" target="_blank" rel="noopener noreferrer nofollow">XRP Lawyer &amp; Dogecoin Founder Slam Wikipedia’s Jimmy Wales Over Bitcoin Comment</a>
The post <a rel="noopener noreferrer nofollow" href="https://coingape.com/binance-ends-bitcoin-and-ethereum-p2p-trading-but-theres-a-catch/">Binance Ends Bitcoin And Ethereum P2P Trading, But There’s A Catch</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coingape.com">CoinGape</a>.

Binance Ends Bitcoin And Ethereum P2P Trading, But There’s A Catch

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