Binance cryptocurrency exchange bars sanctioned individuals, legal entities from Russia

MOSCOW, September 26. /TASS/. The Binance cryptocurrency exchange is denying access to sanctioned individuals and legal entities from Russia, the exchange’s press service told TASS.
“Binance sticks to global rules on sanctions and fully observes restrictions against individuals and legal entities and countries, against which international sanctions have been imposed, thus denying access to the Binance platform to such parties,” the press service said.
Binance continues servicing a limited number of existing Russian users to ensure the soundness of their digital assets, as well as revises business operations and it will inform the society about its future plans, the press service added.
“Compliance remains our top priority. We are deeply committed to our users and maintaining their trust in our platform. We constantly invest in our teams and systems to protect our users,” the press service of the cryptocurrency exchange noted.
The trading platform is very serious about regulatory compliance, and has introduced new procedures and developed technology to this end, Binance stressed. “Our goal is to create industry-leading compliance programs that effectively cooperate with legislative bodies across the world,” Binance concluded.