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Binance to Halt Russian Ruble Deposits and Withdrawals

Binance, the popular cryptocurrency exchange, is making significant moves in its exit strategy from the Russian market. In an official announcement made on Friday, the exchange revealed its plan to cease accepting deposits in Russian rubles (RUB) starting November 15, 2023. Additionally, Binance advised its users to withdraw any remaining RUB from their accounts on the platform, with RUB withdrawals set to be terminated on January 31, 2024. Binance has offered its users an alternative solution. They can transfer their funds to CommEX, a newly established cryptocurrency exchange that acquired Binance’s Russian division back in September 2023. Notably, CommEX will provide zero-fee RUB withdrawals.

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