<div class="cryptonews"> 
 <p class="is-style-lead">From Jan. 31, 2024, 00:00 UTC, the P2P <a rel="dofollow" title="platform" href="https://thebittimes.com/tag/platform.html">platform</a> of the Binance cryptocurrency exchange will stop supporting trading pairs with the Russian <a rel="dofollow" title="ruble" href="https://thebittimes.com/tag/ruble.html">ruble</a>.</p> 
 <p>According to the statement, users can withdraw funds in this currency through the exchange’s fiat partners, convert them into cryptocurrency on Binance Convert, or exchange them on the spot market. The statement added that users can place orders of the Russian <a rel="dofollow" title="ruble" href="https://thebittimes.com/tag/ruble.html">ruble</a> on CommEX, which owns the Russian business of Binance.</p> 
 <blockquote class="wp-block-quote"> 
  <p>“To use CommEX for P2P trading, simply register for or log into the CommEX account and connect it to the corresponding Binance account. Once the connection is complete, users can transfer their assets from Binance to CommEX and continue P2P trading with Russian Ruble (RUB) on CommEX.”</p> <cite>Binance announcement</cite>
 </blockquote> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Is Binance in trouble? 
 </div> 
 <p>In September, Binance announced it exited Russia and sold its business to CommEX. The exchange promised its Russian users a systematic transition to another <a rel="dofollow" title="platform" href="https://thebittimes.com/tag/platform.html">platform</a>, which it says will last about a year. The exchange cited the need to comply with regulatory requirements for leaving Russia. Previously, reports surfaced that the U.S. Department of Justice (DoJ) was investigating Binance due to a possible violation of sanctions against Russia.</p> 
 <p>Binance also stopped accepting deposits in Russian <a rel="dofollow" title="ruble" href="https://thebittimes.com/tag/ruble.html">ruble</a>s on November 15. Withdrawals will continue until Jan. 31, 2024. On November 20, the exchange removed <a rel="dofollow" title="ruble" href="https://thebittimes.com/tag/ruble.html">ruble</a> pairs with the most prominent cryptocurrencies.</p> 
 <p>The cryptocurrency platform also ended its partnership with the Advcash payment system. According to some reports, the reason is that clients transferred funds from sanctioned banks in the Russian Federation through this gateway.</p> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> CommEX struggles to attract Russian clients as Binance exits 
 </div> <span class="google-news-banner__label">Follow Us on Google News</span> 
</div> 
<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/binance-to-permanently-suspend-ruble-on-p2p-platform-tbt73270.html">https://thebittimes.com/binance-to-permanently-suspend-ruble-on-p2p-platform-tbt73270.html</a></p>

Binance to permanently suspend ruble on P2P platform

TheBitTimes

Other articles published on Dec 11, 2023

Jack Dorsey Doesn’t Like Ordinals Being on the Bitcoin Blockchain

Ethereum Flashes Sell Signal, Analyst Highlights Potential ETH Buying Opportunity

While FLOKI and Pepe Begin Downward Trajectory, Investors Target NuggetRush Next

ADA Rise To A New Price Level, Should Cardano Investors Be Cautious?

Crypto News: London-based Pension Fund Invests $20 Million in Crypto Derivatives Platform

Bonk Emerges as the Third-Largest Meme Coin, Surpasses PEPE

Join our free newsletter for daily crypto updates!