Breaking: Binance blacklisted in Russia

The Russian Roskomnadzor (the Federal Service for Supervision of Communications, Information, Technology, and Mass Media) added the cryptocurrency exchange Binance to the blacklist. 

According to the announcement published on the platform's Russian portal, the regulator concluded that the Binance's website contains the forbidden information. Namely, the regulator cited information about purchasing cryptocurrency (Bitcoin). 

The company emphasized that it had never received any notifications or warnings from state authorities or law enforcement authorities. Now the legal department is consulting the experts to clarify the issue.

At the time of writing, the Binance website and services are still available for the Russian users.

Binance is not the first

On September 24, users lost access to the mirror website of LocalBitcoins, the peer-to-peer platform for buying and selling Bitcoins. According to the Roskomnadzor data, the mirror-website of LocalBitcoins.net was added to the register of the forbidden resources on July 21 based on the decision of the Onezhskiy municipal court. 

The latest developments are in line with the Russian authorities' strict approach towards the cryptocurrency industry. As FXStreet earlier reported, the Russian Ministry of Finance proposed modifying the punishment for those who do not report their cryptocurrency income to the tax authorities. If the proposed changes are accepted, the failure to report on the cryptocurrency wallet with the annual turnover of 1 million rubles ($14,000) may lead to three years in prison.