OREANDA-NEWS Binance, the world's largest crypto exchange, will cease all transactions in Russian rubles from January 31, 2024. This is stated in the publication on the official website of the trading platform.

The shutdown of ruble operations became part of the company's decision to exit Russia by selling its local business to the CommEX exchange, the report says. Binance called on all Russian users before this date to convert their ruble assets on the platform into other assets available on the exchange, exchange them for cryptocurrency or withdraw them from the platform through its partners.

From 11 a.m. Moscow time on February 1, 2024, all remaining rubles on the balances of Binance users will be automatically converted into FDUSD stablecoins at the current exchange rate, the company warned. On January 30, Binance will delist all trading pairs with the Russian currency.