Russia’s internet censorship agency, Roskomnadzor, warned against Binance and included the crypto exchange’s primary website to the country’s prohibited domains list.
This was revealed by the crypto exchange on its Russian Telegram channel, detailing that it received the notice on Thursday, and the action was taken as the platform was offering details on acquiring digital currencies: Bitcoin to be specific.
“…we received a notification from Roskomnadzor of the Russian Federation about the inclusion of the site https://www.binance.com in the domain name register containing information prohibited for distribution in Russia,” Binance stated.
The exchange highlighted that it did not receive prior warnings from any Russian law enforcement or civil government services about any violations.
5 Typical Investing Mistakes with Cryptocurrency You Should AvoidGo to article >>
The exchange is now consulting with lawyers, and it assured Russian users that it will continue to offer its services. Moreover, it stressed that crypto investors’ funds stored with the exchange are safe.
It is to be noted that this is not the first time Roskomnadzor is blacklisting any domain for facilitating crypto purchases as earlier it blocked BestChange.ru, an aggregator of over-the-counter (OTC) cryptocurrency providers.
Russia against Crypto
The status of cryptocurrencies in Russia remained unclear for a long time, but earlier this year the country officially labeled digital currencies as property. However, no one can use digital currencies as a mode of payment.
Furthermore, the country’s finance ministry moved a few crypto-related bills recently, basically criminalizing any activities with cryptocurrencies. An update of these bills is seeking heavy fines, along with imprisonments, on Russians failing to disclose their crypto transactions with the tax authorities.