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Binance To Halt Ruble On P2P Platform Permanently

Published:

Binance crypto exchange today has released a notice to suspend the RUB (Russian Ruble) support on its P2P trading pairs and the action will commence by 31st January 2024.

Previously last September, the world’s largest crypto exchange by trading volume, Binance, made an announcement that it has pulled out of Russia while selling its business to CommEX.

On November 15, Binance stopped accepting RUB deposits but its withdrawals are still ongoing until next year.

READ ALSO:Binance.US Lawyer Makes Daring Request To Stop SEC Fraud Investigation

In order to ensure an easy process for the Russian users, Binance made an agreement with CommEX to allow the off-boarding process to take up to 1 year. As a result, all the assets of the Russian users will remain safe and secure.

Fast Facts

  • Starting from 31st January next year, Binance’s P2P platform will halt its support of trading pairs such; USDT/RUB, RUB/RUB, BTC/RUB, BUSD/RUB, RTH/RUB, BNB/RUB, and FDUSD/RUB.
  • The ruble pairs which cryptocurrency exchange removed were those that has more prominent cryptos.
  • However, the existing Russian users can go ahead with P2P trading with RUB free on charge on the CommEX platform.
  • In addition, existing users with this currency can withdraw their funds through Binance’s fiat partners. Then, they can change the currency into crypto on Binance Convert or exchange them on the spot market.
  • Furthermore, the statement disclosed that, existing users can order the RUB (Russian Ruble) on the CommEX network which is the present owner of Binance’s Russian business.
  • Meanwhile, those that wants to make use of the CommEX P2P trading can just log in to or register the CommEX account. Then, they can link it to the corresponding Binance account.

What’s Happening In Crypto Today?

As at the time of this writing, Bitcoin is changing hands at $42,386.11, with a drop in market cap by 3.00% and an increase in trading volume by 83.12%.

On the side of Ethereum, its price at the moment is at $2,246.31, while it records a decline in market cap of 3.83% and an increase in trading volume by 52.44%.

  • On the other hand, Tether USDT remains at $1.00, while it sees a drop in market cap of 0.06% and an increase in trading volume by 39.66%.
  • Meanwhile, BNB is at present trading at $233.78, while it records a decline in market cap by 2.04% and an increase in trading volume by 16.95%.
  • XRP on the other hand, right now sells at the price of $0.6244, with a decrease in market cap by 4.51% and an increase in trading volume by 13.63%.
  • While, Solana at present is selling at the price of $69.30, with a drop in market cap by 3.21% and a rise in trading volume by 27.33%.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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