Crypto exchange giant Binance officially announced last Friday (November 10) that it will stopaccepting Russian ruble deposits starting from November 15, 2023, and is expected toterminate ruble withdrawals on January 31, 2024.

In the announcement, the exchange suggested users withdraw their rubble deposits as soon aspossible. lt noted that clients can transfer their funds to the newly crypto exchange, CommEXwhich acquired the entirely of Binance's Russian business, and then withdraw their assets withzero fee.

Besides, clients can also withdraw funds through Binance's fiat partners, which will enablethem to exchange rubles into cryptocurrencies.

Besides, clients can also withdraw funds through Binance's fiat partners, which will enablethem to exchange rubles into cryptocurrencies.

Binance denied its potential connection with CommeEXa and said: "With this sale, Binance fullyexits Russia. We have no plans to get back."

In the middle of last month, the crypto giant stopped its direct US dollar withdrawals from itsplatform amid increasing regulatory pressure.