The World's Largest Cryptocurrency Exchange Has Joined The Sanctions Against Russia
- 14.08.2026, 17:09
Binance will block transactions involving several Russian crypto platforms.
Binance, the world’s largest cryptocurrency exchange by trading volume, will restrict transactions with crypto platforms that have been targeted by a new round of European sanctions against Russia. “Due to recent changes in legislation, Binance will no longer process transactions involving certain crypto-asset service providers/platforms,” — writes Binance.
On July 23, the European Union adopted its 21st package of sanctions against Russia. It includes restrictions on crypto platforms that European authorities believe are being used to circumvent sanctions. Fourteen cryptocurrency services were subject to these restrictions. The restrictions on A7 Nigeria, A7 Africa, and PilotFinance took effect on August 13. For Rapira, Aifory Pro, ABCeX, WhiteBird, NoOnecrypto, Tradex, Monease, BitPapa, Exnode, Exnode Pay, HTX, and EXMO, the restrictions will take effect on August 23. Binance will block transactions with these platforms and their associated crypto wallets. “During the review period, restrictions may be applied to the affected wallets, and such activity may also constitute a violation of Binance’s Terms of Use,” the announcement states.
In the spring, Binance faced an investigation in the U.S. Senator Richard Blumenthal launched a preliminary investigation into the exchange and sent a request to its CEO, Richard Teng, regarding transactions linked to Iran and Russia. Blumenthal stated that the investigation was related to reports of $1.7 billion in transfers made through Binance. The senator later said he intends to continue pressing Binance to comply with sanctions requirements and anti-money laundering laws.
Binance announced its withdrawal from Russia on September 27, 2023. The exchange reported the sale of its Russian business to the cryptocurrency exchange COMMEX. In November 2023, Binance also terminated its partnership with the payment system AdvCash. The service had allowed users to deposit and withdraw rubles, including through Russian banks subject to sanctions. After leaving Russia, Binance continued to serve a limited number of Russian users, Cointelegraph reported, citing a spokesperson for the exchange. According to the spokesperson, Binance complies with restrictions regarding sanctioned individuals.