Russia's federal executive body responsible for censorship in media and telecommunications (Roskomnadzor) has blacklisted cryptocurrency exchange Binance over promoting cryptocurrencies, iHodl Russia has learned.
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According to the judgement, Binance facilitates the process of issuing and circulating of bitcoins (EXANTE: Bitcoin) while the cryptocurrency itself has no regulation, including by the state, which is contrary to current legislation.
"We did not receive notifications from law enforcement and civil government services before, as well as from the judiciary about the presence of any claims or court decisions. Currently, we have consulted with experts in the field of jurisprudence. We also continue to provide services to Russian users in full, and clients' funds are safe," Binance said.
It is not the first time Binance is facing regulatory pressure. In July 2020, the Securities and Exchange Commission of Brazil (CVM) said Binance does not have authorization to offer derivative products in the country.
The CVM says it remains evident that Binance Futures still offers services via www.binance.com for clients in Brazil.
In August 2020, the Liechtenstein Financial Market Authority (FMA) rejected Union Bank's application to include Binance's CEO Changpeng Zhao in the list of the company's main shareholders.
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