Binance Is No Longer on the Russian Regulations Blacklist

Russian officials announced that the Regional Court of Arkhangelsk decided on canceling a former order to blacklist the cryptocurrency exchange platform Binance in the country. The hearing was on January 20.

The proceedings began in September 2020, when Binance received a notice from Russian data protection authority Roskomnadzor. It said that the company must delete information about bitcoin from the site. The court recognized this demand as illegal.

Gleb Kostarev, Binance’s head of operations for Russia and the Customer Integrated System said that Binance is waiting to get the papers on the court's recent order in two weeks.

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Kostarev noted that the blacklisting hadn't influenced Binance’s exchange amounts in the Russian marketplace. However, it's important for the company to protect its reputation. On January 1, 2021, Russia formally passed a law “On Digital Financial Assets”. The bill provides a legal definition of digital assets and legitimizes their purchase in Russia. However, it bans the use of crypto assets like BTC as a payment method.

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