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Cryptocurrency exchange Binance has announced the suspension of Russian ruble (RUB) deposits starting from November 15, 2023.
In a November 10 announcement, Binance said it would be stopping Russian RUB deposits as of 00:00 on November 15, 2023 (UTC), marking a crucial step in its decision to exit the Russian market. The withdrawal of Russian Rubles will, however, remain accessible until January 31, 2024 (UTC), providing users a window for fund retrieval.
As part of this transition, Binance is offering users holding fiat balances in Russian rubles a fee-free option to transfer their funds to the CommEX platform. This process involves registering for a CommEX account, logging in, and seamlessly connecting it to their corresponding Binance account. Once linked, users can initiate the transfer of their Russian rubles from Binance to CommEX.
Alternatively, users have the option to withdraw their Russian rubles through Binance’s fiat partners before the stipulated deadline. Furthermore, Binance offers the ability to convert Russian rubles into cryptocurrency through Binance Convert or engage in crypto trading on the Binance Spot market.
Binance reassured its user base that all assets of Russian clients are secure and protected during this period.
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