Binance Ends Partnership With Russian Ruble Partner
Binance might end its partnership with Advcash after leaving Russia, amid concerns over money transfers.
Binance, a big cryptocurrency exchange, may stop its partnership with payments company Advcash, the Wall Street Journal reports. This move follows Binance's decision to leave Russia due to new rules.
The Wall Street Journal suggests that Binance and Advcash's partnership might have helped move money between Russian banks under sanctions. However, Advcash denies this. They say they stopped using the Russian currency (Ruble) for credit card payments in 2022.
Advcash stresses they follow all laws and rules. They said, "Advcash checks all users carefully and follows KYC and AML rules.”
Binance started working with Advcash in 2019 for transactions in Russian currency. Ending this partnership will change how Binance works in Russia.
