header banner
  • Menu
Default

Russia presents legal risks for the largest cryptocurrency player, Binance

  • 👤 Mark Baker
  • 👁 1009
  • ⏰ Published: 2023-11-02 Time: 02:22:02
Table of Contents
    The Securities and Exchange Commission is separately suing two major cryptocurrency platforms, Binance and Coinbase. WSJ’s Caitlin Ostroff breaks down the lawsuits and their potential impact on the crypto industry. Photo illustration: Adam Adada/Xingpei Shen

    Binance is helping Russians move money abroad, potentially adding to its sprawling legal problems in the U.S.

    The cryptocurrency giant, led by founder Changpeng Zhao, joined many other major international companies early last year in scaling back its business in Russia, one of its largest markets by trading volume at the time. After Russia invaded Ukraine, Binance said it had stopped working there and was implementing Western sanctions requirements. It restricted trading on its platform in Russia.

    Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

    Sources

    Article information

    Author: Mark Baker

    Last Updated: 1698888122

    Views: 1009

    Rating: 4.5 / 5 (93 voted)

    Reviews: 91% of readers found this page helpful

    Author information

    Name: Mark Baker

    Birthday: 2019-04-25

    Address: 6223 Marisa Union Suite 126, Davidtown, VT 11932

    Phone: +4066614869241854

    Job: Electrician

    Hobby: Chocolate Making, Graphic Design, Tennis, Mountain Climbing, Cycling, Hiking, Skiing

    Introduction: My name is Mark Baker, I am a artistic, irreplaceable, fearless, daring, valuable, brilliant, bold person who loves writing and wants to share my knowledge and understanding with you.