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.
Subscribe to ForkNews on Telegram to stay up to date with news from the world of cryptocurrencies
You May Also Like
China Tax Agency Calls for Tax on Cryptocurrencies
Despite crackdowns and attempts to completely eradicate all cryptocurrency transactions in the country, Chinese tax authorities are calling for a tax base for the digital asset industry to be defined.
The IMF proposes a plan for international regulation of the crypto industry
The International Monetary Fund (IMF) has recognized the economic value of cryptocurrency innovation and the urgent need for clear rules to regulate the industry.
