By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Sign In
Web3,Blockchain & Metaverse Education Media PlatformWeb3,Blockchain & Metaverse Education Media Platform
  • Home
  • News
    • Cryptopedia
      • Blockchain News
      • Bitcoin News
      • Ethereum News
      • Altcoin News
    • Latest Metaverse & NFT News
      • Metaverse & NFT Games
      • Virtual Land
    • Exchanges News
    • Policy & Regulation
    • Web Stories
  • Press Release
    • Sponsored Article
    • Submit Press Release
  • Interviews
    • Opinion
  • Expert Alliance
    • About Expert Alliance
    • Expert Alliance Benefits
    • Experts List
    • Apply for Expert Alliance
  • Guide
    • NFT Review
    • Game Review
    • Submit NFT Project
  • Videos
  • Events
Search
  • Advertise with us
  • Media Kit
  • 365 Media Plan
  • Submit Press Release
  • Submit NFT Project
© 2022 NFTStudio24.com News Network. All Rights Reserved.
Reading: Binance Turns Down Allegations of Sharing User Data with Russia
Share
Web3,Blockchain & Metaverse Education Media PlatformWeb3,Blockchain & Metaverse Education Media Platform
Search
  • Home
  • News
    • Cryptopedia
    • Latest Metaverse & NFT News
    • Exchanges News
    • Policy & Regulation
    • Web Stories
  • Press Release
    • Sponsored Article
    • Submit Press Release
  • Interviews
    • Opinion
  • Expert Alliance
    • About Expert Alliance
    • Expert Alliance Benefits
    • Experts List
    • Apply for Expert Alliance
  • Guide
    • NFT Review
    • Game Review
    • Submit NFT Project
  • Videos
  • Events
Have an existing account? Sign In
Follow US
  • About us
  • Advertise with us
  • Media Kit
  • 365 Media Plan
  • Submit NFT Project
  • Careers
  • Contact us
  • Privacy Policy
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
  • Global
  • Japan
  • South Asia
  • Partners
  • Community
HOME > News > Binance Turns Down Allegations of Sharing User Data with Russia
News

Binance Turns Down Allegations of Sharing User Data with Russia

news room
Posted news room April 23, 2022 735 Views 6 Min Read
Updated 2022/06/27 at 9:33 PM
Changpeng Zhao, founder and chief executive officer of Binance, BNB , Binance , Binance Coin
SHARE

Binance officially released a statement condemning Reuters’ article by calling it “categorically false.” The exchange was attacked by the news outlet for allegedly sharing customer data with FSB-controlled agencies and Russian regulators.

Contents
Binance Denies the AllegationsBinance Contacts ReutersBinance’s Russia PolicyFinal words
BNB , Binance , Binance Coin

Recently, on 23 April 2022, Reuters reported that Binance had built ties with Russian regulators by sharing its users’ data to trace donations to Alexei Navalny, a Russian opposition leader, and anti-Putin activist.

The article stated that last year, Binance’s head of Eastern Europe and Russia, Gleb Kostarev met with Russia’s anti-corruption agency called Rosfinmonitoring in regards to seeking customer data. Rosfinmonitoring is related to Russia’s Federal Security Service (FSB).

During this time, the agency was tracing down crypto donations provided by Russians to support Navalny, who got arrested in Russia in 2021. Investigations for Navalny revealed that prior to his arrest Navalny dodged an attempt of assassination through poisoning. Navalny supporters believe he was arrested for going against Putin’s regime.

The report revealed that the meeting between Kosterav and Rosfinmonitoring was done by the Digital Economy Development Fund and German Klimenko. In the meeting, Kosterav agreed to help the agency by saying he didn’t have a choice. This sparked an uproar and suspicions rose against Binance on social media.

The recent events regarding the Ukraine-Russia war have already put everyone on toes; this report raised questions about Binance’s security and credibility as a crypto exchange.

Although there is no direct evidence pointing towards Binance’s privacy violation. The Russian crypto market revealed there’s no surprise about the news of Binance working with Rosfinmonitoring as many crypto exchanges were forced to work with AML agency to maintain their status in the market.

Binance Denies the Allegations

Binance wasted no time denying the allegations made by the article. It released an official statement on the Binance blog with detailed clarification and facts that it had no connection with the Russian government or the agency.

The article stated that the allegations were “categorically false.”

The article also said: “Today, any government or law enforcement agency in the world can request user data from Binance as long as it is accompanied by the proper legal authority. Russia is no different […] Binance has not entered into any form of unusual agreement with the Russian government that differs from any other jurisdiction.”

The denying statement ended with: “And, to be clear. Binance has not sought to actively assist the Russian state in its attempts to investigate Alexi Navalny; indeed the prosecution case concerning Navalny noted that no donations that were the subject of investigation related to digital currencies. To say so is materially inaccurate.”

Binance Contacts Reuters

After the statement that said Binance will file a complaint against Reuters for falsely accusing the crypto exchange, it directly contacted Reuters via email to address the situation.

Binance also released emails they shared with Reuters. Nothing has been done as of yet, and only the future will tell how Reuters will respond to the complaint by Binance.

Binance’s Russia Policy

Other than clarifying and denying Reuters’ allegations, Binance also revealed its policy for Russia, pre-war and post-war.

The statement said that the crypto exchange had repeatedly asked the government to establish “an effective crypto regulatory framework.” Binance stopped operating in Russia after the Ukraine attack and “aggressively implemented sanctions against Russia.”

Before the war, Binance had worked with Russia to help Russian investors be part of the global crypto market through the exchange. Binance repeatedly asked the Russian government to set regulatory laws for crypto to ensure their status in the market, but the lawmakers failed to comply.

After the war, Binance announced it would stop operating in Russia following the European Union policy, limiting millions of Russian residents to make transactions through the crypto exchange.

CEO of Binance, Changpeng Zhao, said that the crypto exchange will follow the sanctions set by the European Union and America against Russia. However, it would not “unilaterally freeze millions of innocent users’ accounts.”

Russia has limited the Russians’ transactions to 10,00 euros and stopped accepting Russia-issued Visa (V) and Mastercard (MA) banks.

Binance also released details of how it had helped Ukraine raise funds by donating $10M+.

Related News

  • Binance Coin: BNB Prices Struggle a Bear Market in the First Quarter of 2022
  • Stay Alert From Great SMS Phishing Scam Says Binance Ceo, Cheng Peng Zhao
  • Limitations On Crypto Advertisement Will Not Influence The Crypto Demand: Binance CEO

Final words

Binance is one of the largest cryptocurrency exchanges in the world. Each branch operates separately and works with every country’s government to establish a regulatory framework, as mentioned in the official statement. The article clearly says that the crypto exchange only works with the government to better its users’ experience and facilitate them without any political involvement.

The emails exchanged between Reuters and Binance show that the situation is yet to be resolved. The users and crypto influencers hope that both parties will clarify the situation by showing strong evidence to maintain their authenticity in the industry.

Read Binance’s official statement here.

TAGGED: MasterCard

Sign Up For Daily NFT Drops

Don't miss the next NFT drops!!!
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Previous Article NFT, Moonbirds NFT, NFT news, nft update, Jimmy Fallon, Jimmy Fallon Moonbirds NFT, Jimmy Fallon NFT Did Jimmy Fallon Receive a Free Moonbirds NFT or Not?
Next Article willy woo, bitcoin, bitcoin analysis, BTC analysis, Btc Bitcoin News: Willy Woo’s supply shock indicator shows BTC is undervalued
Leave a comment

Leave a Reply

You must be logged in to post a comment.

Don’t miss the NFT Drops! Sign up Now

I have read and agree to the terms & conditions

Latest News

DeFi protocol DefiLlama has resolved its internal conflicts 1
DeFi protocol DefiLlama has resolved its internal conflicts
CRYPTOPEDIA News WEB3 March 21, 2023
Crypto Fear and Greed Index has reached its highest level
Crypto Fear and Greed Index has reached its highest level
BITCOIN NEWS News March 21, 2023
Project AI Powered Trading Platform Accused of Draining 1M from Users
Project ‘AI-Powered’ Trading Platform Accused of Draining $1M from Users
AI BLOCKCHAIN NEWS News March 20, 2023
Join us
Ad imageAd image

You Might also Like

DeFi protocol DefiLlama has resolved its internal conflicts 1
CRYPTOPEDIANewsWEB3

DeFi protocol DefiLlama has resolved its internal conflicts

March 21, 2023
Crypto Fear and Greed Index has reached its highest level
BITCOIN NEWSNews

Crypto Fear and Greed Index has reached its highest level

March 21, 2023
Project AI Powered Trading Platform Accused of Draining 1M from Users
AIBLOCKCHAIN NEWSNews

Project ‘AI-Powered’ Trading Platform Accused of Draining $1M from Users

March 20, 2023
New York allows Binance Voyager deal to proceed without holdings
EXCHANGESNews

New York Judge allows Binance-Voyager deal to proceed without holdings

March 17, 2023
//

NFTStudio24 delivers the latest NFT news to its global audience. We are committed to reporting mainstream and emerging talent via exclusive press releases, podcast interviews, NFT rankings, and much more.

GET IN TOUCH

  • About us
  • Advertise with us
  • Media Kit
  • 365 Media Plan
  • Submit NFT Project
  • Careers
  • Contact us
  • Privacy Policy

Experts Alliance

  • Experts Alliance
  • About Alliance
  • Alliance Benefits
  • Membership requirements
  • Apply Alliance
//

Subscribe to our newsletter to get our newest articles instantly!

I have read and agree to the terms & conditions
Web3,Blockchain & Metaverse Education Media PlatformWeb3,Blockchain & Metaverse Education Media Platform
Follow US

© 2022 NFTStudio24.com News Network. All Rights Reserved.

Removed from reading list

Undo
Join us metaverse Join us metaverse
Welcome Back!

Sign in to your account

Register Lost your password?