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Binance Urges Russian Users to Convert Rubles to Other Assets

Binance, the world's largest cryptocurrency exchange, has called on Russian users to convert their rubles to other assets by January 31. The cessation of ruble transaction support is part of Binance's decision to exit Russia and sell its local business, CommEX exchange. Binance will cease all services in Russian rubles, including cryptocurrency trading on the exchange, Binance Convert, and Binance Pay. Users are advised to exchange their remaining ruble assets for other available assets on Binance, convert rubles to cryptocurrency, or withdraw them through the exchange's partners before the termination of these services in rubles. Starting from February 1, 2024, at 11:00 MSK, any remaining ruble balances on users' accounts will be automatically converted to FDUSD stablecoins at the current exchange rate, according to the exchange's announcement. On January 30, 2024, at 11:00 MSK, Binance will delist all existing spot trading pairs with the ruble (BTC/RUB, USDT/RUB, and others). All open orders for these trading pairs will be automatically closed. Earlier, Binance announced the discontinuation of ruble transactions on its internal P2P platform and subsequently revealed the complete closure of the platform for Russian users. Disclaimer: The information provided is for informational purposes only and does not constitute financial advice. Users should conduct their own research and seek professional advice before making investment decisions. Read the full article

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