In light of the uncertainties surrounding the company’s future operations in Russia, Binance may decide to sever its ties with Advcash.
According to a recent story in the Wall Street Journal, the major cryptocurrency exchange Binance may terminate its collaboration with the payments processor Advcash. This move comes after cryptocurrency exchange Binance made the choice to leave Russia as a result of new regulations.
The Wall Street Journal reports that there is speculation that a cooperation between Binance and Advcash may have assisted in the movement of money between Russian banks despite restrictions. Advcash, on the other hand, refutes this. They claim that they ceased accepting payments in Russian Rubles (the national currency) for credit cards in the year 2022.
Advcash is certain that they abide with all laws and regulations. They said that “Advcash carefully checks all users and follows KYC and AML rules.”
In 2019, Binance began collaborating with Advcash for the processing of transactions using the Russian currency. Binance’s operations in Russia will be affected by the termination of this cooperation.
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