Binance Cooperates With the Russian Special Services – Media
The Russian regional office of the Binance cryptocurrency exchange agreed to share information about clients from Russia with Rosfinmonitoring and the FSB in exchange for assistance in doing business in the state, Reuters reports, citing former employees of the company and other informed sources.
A Binance spokesperson explained in a comment to ForkLog that any law enforcement agency in any country can submit a request to obtain the data of the exchange’s clients if it has the appropriate legal authority to do so, and Russia is no exception.
The company representative emphasized that Binance has the right to reject such a request if it fails to check for legitimacy.
According to Reuters, in April 2021, Binance Regional Director Gleb Kostarev, who at that time served as a director in Eastern Europe, held a meeting with representatives of Rosfinmonitoring and allegedly agreed to share customer data, even create a local unit in Russia through which the authorities could request access to the necessary information. In a conversation with his partner, he emphasized that he was “not left with much choice.”
Andrey Tugarin, the managing partner of GMT Legal, said that the transfer of data from the exchange to Rosfinmonitoring is an expected action that will not affect investors who legally conduct transactions with digital assets.
Tugarin added that information about clients can also be transferred to other authorities, for example, to the tax service, and therefore the 3-NDFL tax return should be filled out by those persons who in 2021 received income from operations with cryptocurrencies and withdrew funds to fiat.
By the way, BINANCE Exchange continues to lead its liberal and soft policies against users from Russia, despite its cruel war against Ukraine.
On February 24, Russia carried out a paramilitary invasion of Ukraine on several fronts, shelling Kharkiv, Kyiv, Sumy, Chernihiv, Vinnytsia and other cities of various calibres.
The Ukrainian army is holding back the invasion of the enemy. From the hottest spots, the civilian population is trying to evacuate to other cities or even countries.
The world community organized to help the refugees and the Ukrainian army and imposed strict sanctions against Russia.
The BTC-Alpha team together with trusted volunteer communities created a charity fund ‘Alpha for Ukraine’. You can make a donation to help everyone in Ukraine who needs medicines, humanitarian aid and to support the defence of the country.