BasEx | Binance to Discontinue Ruble Support on P2P Platform
Binance P2P Platform to Cease Ruble Support
11.12.2023
Binance P2P Platform to Cease Ruble Support

The cryptocurrency exchange Binance announced that from January 31, 2024 (00:00 UTC, 03:00 Moscow time) its P2P platform will cease supporting transactions with the Russian ruble.

Users are advised to withdraw their funds in rubles before the specified date through the exchange's fiat partners, convert them into cryptocurrency using the Binance Convert feature, or trade on the spot market.

For further transactions with the Russian ruble, it is suggested to use the CommEX platform, which manages the Russian segment of Binance.

It should be noted that Binance has already stopped accepting deposits in Russian rubles from November 15, as part of its withdrawal process from the Russian Federation. Withdrawals will be available until January 31, 2024.

Additionally, as of November 20, the exchange has removed ruble trading pairs with the major cryptocurrencies.

There is also information that Binance plans to end its partnership with the Advcash payment system. It is speculated that this is due to the use of this system for transferring funds from Russian banks under sanctions.

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