Binance may expand its operations to Russia.
Binance, the world’s largest trading platform, is considering expanding its operations to Russia and neighboring countries, as reported by Reuters, one of the leading news agencies. Binance Eastern Europe Director Gleb Kostarev said the company aims to obtain a license wherever regulations allow, and also hinted that operations could expand to other neighboring countries:
“In Ukraine, Kazakhstan and Uzbekistan they are more loyal to cryptocurrencies and are taking steps towards liberalization rather than restriction. ”
Kostarev added that local investors generate about $5 billion in annual crypto trading volume.
Crypto Regulations in Russia
As we mentioned earlier, Russia has tightened its steps regarding crypto-asset regulation. In response to the Russian Central Bank’s proposal to ban cryptoassets entirely earlier in the week, Russian President Putin and the Finance Ministry’s Chebeskov dismissed a prohibitive policy, saying that a total ban on cryptoassets is not necessary. According to the latest information, the Russian government and other official institutions have also agreed on the principles to be included in the crypto asset regulations.
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