• One of the biggest platforms in the industry, Binance launched its Binance card not too long ago and is getting ready to launch it in Russia. 
  • As at the time of writing, Russia has a strict ban on Cryptocurrency within the nation so getting this card through past the law may be a challenge.

One of the biggest platforms in the industry, Binance launched its Binance card not too long ago and is getting ready to launch it in Russia. As at the time of writing, Russia has a strict ban on Cryptocurrency within the nation so getting this card through past the law may be a challenge.

As the largest crypto platform in the world, Binance is working on launching its debit card in the nation according to a senior executive within the company.

The head of operations at Binance for Russia and the CIS, Gleb Kostarev has revealed that the plan will bring in the card to the country and will help the ongoing goal for the platform to provide all users with the same experience that is also in line with the local regulations.

Currently though, it doesn’t seem that the platform is prepared to officially announce anything or provide any information in regards to this matter as the senior executive for further went on to say:

“We strive to provide all Binance users with the same experience that is fully compliant with local regulations. Russia for us is an important market. We are working on the launch of the Binance card in Russia, but so far we cannot designate the exact date launch or give any legal opinion on this issue at the moment.”

The payment card was announced earlier this year in April and was designed to enable payments in cryptocurrencies such as bitcoin. The initial idea for the card was to be accepted in more than 200 regions all around the world with the card officially day beauty in countries of the European economic area in July this year. Only time will tell to see how well the card doors in Russia.

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

Source
Author: Robert Johnson

Categories: Legal

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