Binance Probed For Helping Russia
Binance is being investigated for violating Russian economic sanctions, opening a new front in the digital asset exchange’s long-running war on compliance.
Recent reports indicate that Russian customers can now fund their exchange accounts using Visa and Mastercard cards issued by Russian banks, undermining Binance’s protests. Binance also lifted its previous restrictions on exchange accounts worth more than $10,992, which had been restricted to ‘withdraw only’ mode since Russia’s invasion.
While Binance maintains that it does not allow Russian customers to transact in US dollars, the exchange is linked to the Russia-linked payment processor Advcash.
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