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Binance Pulls the Plug on Russian Ruble: Delisting Confirmed by January 30 - BSCDesk : Binance Smart Chain and Crypto News

Binance Pulls the Plug on Russian Ruble: Delisting Confirmed by January 30

Binance, a major player in the cryptocurrency
market, is bidding farewell to the Russian market. As part of its exit strategy
and sale to CommEX, the platform is set to discontinue all services related to
the Russian Ruble (RUB) in early February 2024.

This decision holds significant implications for
users with RUB assets on the platform, prompting Binance to provide clear
guidelines for navigating this transition seamlessly.

On January 30, 2024, Binance’s spot trading services
will delist all existing RUB spot trading pairs, including popular ones like
BTC/RUB and USDT/RUB. Any open spot orders tied to these pairs will be
automatically closed, aligning with the cessation of trading in these markets.

Additionally, Binance Convert and Binance Pay will
delist all RUB trading pairs and exclude RUB from the list of supported fiat
currencies, effective January 30, 2024. This move signifies a comprehensive
overhaul, ensuring that RUB will no longer be integrated into these services.

Deadline for Fiat Withdrawals

For users looking to withdraw RUB directly, Binance
Fiat will support fiat withdrawals until January 31, 2024, at 00:00 UTC.
According to the crypto exchange , users must use this window to
secure their funds seamlessly. Lastly, Binance’s P2P trading will delist all RUB
trading pairs on January 31, 2024, at 00:00 UTC. This marks the conclusion of
RUB-related trading activities on the platform.

Last year, Binance P2P announced the discontinuation of RUB trading pairs, including popular ones like USDT/RUB, FDUSD/RUB, BNB/RUB,
ETH/RUB, BUSD/RUB, RUB/RUB, and BTC/RUB, effective from January 31, 2024, 00:00
(UTC). According to a report by Finance Magnates, this decision follows Binance’s sale of its Russian
operations to CommEX, marking a pivotal moment in the cryptocurrency industry’s
response to shifting regulatory standards.

Binance has also provided alternative options for
users, including withdrawing Russian Rubles through Binance’s fiat partners
before the specified date, converting RUB into crypto using Binance Convert, or
opting for trading Russian Rubles for crypto on the Binance Spot market.

Previous reports revealed that Binance’s P2P trading
platform allowed transactions through sanctioned banks like Tinkoff Bank and
Rosbank. Binance promptly ceased support for these banks, amid strict financial
sanctions on Russia.

Binance, a major player in the cryptocurrency
market, is bidding farewell to the Russian market. As part of its exit strategy
and sale to CommEX, the platform is set to discontinue all services related to
the Russian Ruble (RUB) in early February 2024.

This decision holds significant implications for
users with RUB assets on the platform, prompting Binance to provide clear
guidelines for navigating this transition seamlessly.

On January 30, 2024, Binance’s spot trading services
will delist all existing RUB spot trading pairs, including popular ones like
BTC/RUB and USDT/RUB. Any open spot orders tied to these pairs will be
automatically closed, aligning with the cessation of trading in these markets.

Additionally, Binance Convert and Binance Pay will
delist all RUB trading pairs and exclude RUB from the list of supported fiat
currencies, effective January 30, 2024. This move signifies a comprehensive
overhaul, ensuring that RUB will no longer be integrated into these services.

Deadline for Fiat Withdrawals

For users looking to withdraw RUB directly, Binance
Fiat will support fiat withdrawals until January 31, 2024, at 00:00 UTC.
According to the crypto exchange , users must use this window to
secure their funds seamlessly. Lastly, Binance’s P2P trading will delist all RUB
trading pairs on January 31, 2024, at 00:00 UTC. This marks the conclusion of
RUB-related trading activities on the platform.

Last year, Binance P2P announced the discontinuation of RUB trading pairs, including popular ones like USDT/RUB, FDUSD/RUB, BNB/RUB,
ETH/RUB, BUSD/RUB, RUB/RUB, and BTC/RUB, effective from January 31, 2024, 00:00
(UTC). According to a report by Finance Magnates, this decision follows Binance’s sale of its Russian
operations to CommEX, marking a pivotal moment in the cryptocurrency industry’s
response to shifting regulatory standards.

Binance has also provided alternative options for
users, including withdrawing Russian Rubles through Binance’s fiat partners
before the specified date, converting RUB into crypto using Binance Convert, or
opting for trading Russian Rubles for crypto on the Binance Spot market.

Previous reports revealed that Binance’s P2P trading
platform allowed transactions through sanctioned banks like Tinkoff Bank and
Rosbank. Binance promptly ceased support for these banks, amid strict financial
sanctions on Russia.

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