BinanceExchanges

Binance exchange is blocked in the Russian Federation

The largest cryptocurrency exchange Binance on September 24 received a notification from Roskomnadzor about the blocking of a website in Russia by a court decision from the Arkhangelsk region.

Yesterday Roskomnadzor sent Binance a notification that the site https://www.binance.com was included in the domain name registry, which contains information prohibited from distribution in Russia. The basis for entry into the register was “information on the possibility of purchasing electronic cryptocurrency (Bitcoin)”. 

The reason for blocking the site was the decision of the Mirny city court of the Arkhangelsk region, rendered by judge M.M. Okhotina. June 2, 2020 at the suit of the ZATO prosecutor in Mirny. Together with Binance, the Matbea.com cryptocurrency exchange platform will be blocked. The text of the court ruling is once again almost completely copied from previous similar decisions.

The Roskomnadzor registry does not yet contain information on blocking the entire domain or specific pages, and the site remains accessible.

The exchange states that it has not previously received any notifications from Russian government agencies, including the judiciary, about the existence of claims or court decisions against it. Binance turned to lawyers for advice. For its part, the exchange is not going to introduce any restrictions for users from Russia, their trading accounts remain active and funds on them are available for all operations.

Gleb Kostarev, head of the Binance operations department in Russia and the CIS countries, commented on the news of the blocking: 

“Binance values ​​its reputation in the Russian market, and we will challenge this decision in court. In addition, we are considering the possibility of using alternative technological solutions. We will inform our Russian community about all our steps. “

 

Statistics say that the prosecutors and courts of the Arkhangelsk region do not like cryptocurrencies most of all, but one can only guess about the reasons for this “judicial antipathy”. Since the beginning of 2020, this is the fourth blocking of cryptocurrency resources and the third in the Arkhangelsk region. In March, the Nyandomsky District Court blocked five cryptocurrency websites , and in July the Kotlas City Court blocked seven more . As part of this case, a month ago, at the end of August, the largest monitoring of exchangers – Bestchange.ru – was blocked for the third time in Russia . The administration of the resource, as before, decided to fight the illegal blocking. Outside the Arkhangelsk region in April, the decision on blocking  was made only once, in Anapa – against the informational website Coinspot and the English-language forum Bitcoin.com.

However, in 2021, opponents of cryptocurrencies will have a new instrument at their disposal – the law on CFA . It prohibits the use of digital currencies in Russia as a means of payment and the dissemination of information about it. Although there is virtually no acceptance of payments in cryptocurrencies in Russia, and there are very few sites offering such payments, the “extended” interpretation of the law can be used against any sites on this topic.

Moreover, the law on CFA may turn out to be a lesser evil for the owners of cryptoassets in Russia. The Ministry of Finance of the Russian Federation proposes to introduce even stricter restrictions, including the  obligatory declaration of  transactions with cryptoassets for amounts exceeding 100 thousand rubles. First of all, these requirements will affect exchangers and other companies that use cryptocurrencies in commercial activities.

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Experienced Founder with a demonstrated history of working in the newspapers industry. Skilled in Data Research, Management, Investment Research, Teamwork, and Leadership. Influencing the technology, people, and technical analysis of the Cryptocurrency and Blockchain world.
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