Binance took the initiative to discuss the rules for conducting cryptocurrency transactions with the Central Bank after the publication of the regulator’s report on plans to completely ban digital currencies in Russia.
The Central Bank considers private crypto assets a threat to the economy and a tool for illegal activities. In this regard, the regulator proposes to prohibit the circulation of cryptocurrencies in the country. It is proposed to provide for liability for violation of the law.
The largest crypto exchange Binance stated that it is ready to begin negotiations with the regulator on the rules of cryptocurrency transactions. The company complies with all regulatory requirements and is cooperating with regulators, the spokesperson said.
With regard to the threat of illegal use of crypto assets, Binance emphasizes that it monitors and blocks suspicious transactions related to criminal activity and terrorist financing. The company actively cooperates with law enforcement agencies and takes a number of proactive measures. In addition, users from regions subject to sanctions are blocked.
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