Major Crypto Exchanges Exclude Russian Banks Under International Sanctions from Payment Options
Summary:
Major crypto exchanges, including ByBit and OKX, have followed Binance's lead in excluding Russian banks under international financial sanctions from their payment options. Tinkoff Bank and Sberbank are no longer available for P2P transactions on these platforms. Russian users can no longer receive fiat money in exchange for crypto on Tinkoff or Sberbank accounts on ByBit and OKX. The presence of sanctioned Russian banks on crypto exchanges has raised concerns, with some users still finding ways to utilize these banks for transactions.
Major crypto exchanges, ByBit and OKX, have followed in Binance's footsteps by excluding Russian banks under international financial sanctions from their payment options. Tinkoff Bank and Sberbank are no longer available for P2P transactions on these platforms. Russian users can no longer receive fiat money in exchange for crypto on Tinkoff or Sberbank accounts on ByBit and OKX. While there have been no official announcements from the companies, OKX still permits users to receive fiat through the Russian branch of Raiffeisen Bank and Russian Standard Bank, which are not included in the sanctions list. Last week, the Wall Street Journal reported on the presence of sanctioned Russian banks on Binance's transfer methods, prompting their removal from the list. However, Cointelegraph discovered that Binance P2P users are still advertising sales with "the green bank" as the preferred payment option. Similar reports indicate that merchants on OKX and ByBit continue to offer exchanges via sanctioned banks through private communication.
Published At
8/28/2023 8:52:32 AM
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