- Binance censored by Russian authorities
- Binance to engage legal counsels for further advise
- Binance says user’s funds ae safe
The Russian Telecom Regulator has added leading blockchain and ecosystem giant Binance to its list of blacklisted websites in the country.
The leading cryptocurrency exchange was reportedly blacklisted because its website included information about the sale and purchase of cryptocurrency such as bitcoin.
Binance revealed that it was previously not notified by the Russian government about any violations.
Binance also revealed user’s funds on the platform are safe and it is exploring legal actions to engage with the authorities.
Meanwhile, users may still enjoy using Binance by accessing the website with virtual private network VPN services.
Few weeks ago, despite the general position of the country on cryptocurrency, Binance said it will launch its debit card in the country.
The Russian ministry of Finance (MinFin) has also some days ago revealed a drafted bill that will require every resident to declare their crypto wallets and failure to do so will warrant a punishment of upto 3 years in jail.