Russian Media Censor Flags Binance as Prohibited Website

Russia’s internet censorship agency, Roskomnadzor, warned against Binance and included the crypto exchange’s primary website to the country’s prohibited domains list.

This was revealed by the crypto exchange on its Russian Telegram channel, detailing that it received the notice on Thursday, and the action was taken as the platform was offering details on acquiring digital currencies: Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term to be specific.

“...we received a notification from Roskomnadzor of the Russian Federation about the inclusion of the site https://www.binance.com in the domain name register containing information prohibited for distribution in Russia,” Binance stated.

The exchange highlighted that it did not receive prior warnings from any Russian law enforcement or civil government services about any violations.

The exchange is now consulting with lawyers, and it assured Russian users that it will continue to offer its services. Moreover, it stressed that crypto investors’ funds stored with the exchange are safe.

It is to be noted that this is not the first time Roskomnadzor is blacklisting any domain for facilitating crypto purchases as earlier it blocked BestChange.ru, an aggregator of over-the-counter (OTC) cryptocurrency providers.

Russia against Crypto

The status of Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term in Russia remained unclear for a long time, but earlier this year the country officially labeled digital currencies as property. However, no one can use digital currencies as a mode of payment.

Furthermore, the country’s finance ministry moved a few crypto-related bills recently, basically criminalizing any activities with cryptocurrencies. An update of these bills is seeking heavy fines, along with imprisonments, on Russians failing to disclose their crypto transactions with the tax authorities.