Bitcoin News Official TheBitTimes.com

Russian ruble use on Binance P2P has been restricted to Russian citizens who live in the country. Crypto currency exchange Binance continues introducing more restrictions for Russian customers on its peer-to-peer (P2P) trading platform. Binance P2P has banned Russian residents from using fiat currencies other than the Russian ruble, Binance announced on its Telegram channel on Aug. 27. Binance’s Russian clients residing outside the country have also been banned from using currencies like the ruble, the euro, the United States dollar and the Ukrainian hryvnia. In order to use the Russian ruble on Binance P2P, users must have Russian Know Your Customer (KYC) verification and reside in Russia at the same time, the exchange stated. “We apologize for the inconvenience. If you have any questions or need assistance regarding this update, please contact Binance Customer Support,” Binance stated. The announcement has brought some attention from Binance’s Russian users, with the Telegram pos...

Russia will continue to create new crypto platforms in response to sanctions, State Duma official Anatoly Aksakov said. The Russian government is no longer planning to launch a regulated national cryptocurrency exchange but rather wants to regulate multiple crypto trading platforms. After introducing a plan to create a national crypto exchange in November 2022, Russian lawmakers have abandoned the idea, according to State Duma member Anatoly Aksakov. As previously reported, the local government was considering launching a unified crypto exchange as part of the Moscow Exchange. Instead of setting up a unified crypto exchange, Russia now wants to set rules for creating and managing such platforms, Aksakov said, the local news agency Izvestia reported on May 29. Russia’s Ministry of Finance was reportedly among the authorities that didn’t support the plan for a national crypto exchange. Aksakov, who leads the Duma’s financial markets committee, noted that crypto exchanges would allow Rus...

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