Russia Authorities seem to be running after the largest crypto exchange Binance by marking a ban on its website domain in the country. Binance founded by Changpeng Zhao overshadows many Security token companies by its volume of transactions and its millions of users. Telecom regulator Roskomnadzor has enlisted Binance in the list of platforms broadcasting banned info, Binance even officially declared on its Telegram channel. The trading platform Binance says that the prohibition is owing to broadcasting data in regards to acquisition of crypto like security tokens offering Bitcoin and other. Roskomnadzor is a federal service in Russia that looks after the supervision of communications, mass media and info tech.

In spite of the website being put on the rundown of restricted sites, Russians can in any case get to it with no extra tools such as a VPN. Roskomnadzor’s official record of boycotted sites includes the URL of Binance. In a public declaration, Binance officials highlighted that the trading platform was not earlier notified of such demands by legal bodies in Russia, or the civil government or the courts preceding to obtaining the Roskomnadzor notification. Binance has presently involved its legal counsels for additional guidance. Binance executives also said that they assure all of their Russian clients that no interruption would be found in their services in the meanwhile and that their investment tokens are secure.

In June 2020, the trading platform’s website domain apparently boycotted by Roskomnadzor; the activity has all the earmarks of being irrelevant to Binance's schedule to introduce its digital currency debit card in Russia since the proposals for it were declared somewhat far along in September 2020. In the month of August, Roskomnadzor also banned BestChange.ru, a large crypto domain in Russia which offers an aggregator facility of around 400 crypto trading websites.

World Crypto Business

CBW - External Analyst

UNITED STATES