The world’s largest cryptocurrency exchange, Binance Holdings Ltd., denied the report from the Wall Street Journal, which claims that it is still helping Russians move funds abroad through crypto transactions.
On August 22, the WSJ published a report that claims Binance is still handling “substantial” Russian ruble trading funds and, with the help of intermediaries, transferring the client’s funds from the sanctioned bank into balances on the platform.
As proof of this claim, the WSJ mentioned the data taken from the Binance website, screenshots, and text in an official chat group.
Users can exchange Russian rubles for cryptocurrencies through the Binance platform with U.S. banks that have been blacklisted, such as Tinkoff Bank and Rosbank, according to the report.
With the social media messaging app Telegram, the spokesperson has denied this whole claim. “Access to buying and selling USD & EUR on the Binance P2P platform for Russian citizens, as well as any individuals residing in Russia, regardless of nationality, is prohibited. We have no relationship with any banks whatsoever, in Russia or elsewhere, in relation to our P2P program.”
The U.S. Department of Justice started the investigation into Binance because it permitted Russian users to use the platform in violation of sanctions in May. The DoJ has not yet filed any charges or released the findings of the investigation.
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