Binance Denies Allegations It Shared Russian Users' Data With Law Enforcement.

In reaction to a Reuters report published on Friday, Binance, a major global cryptocurrency exchange, vehemently denied it had assisted Russian authorities in tracking down payments to the opposition.

According to Reuters, Binance's head of Eastern Europe and Russia, Gleb Kostarev, met with Russia's anti-money laundering agency, Rosfinmonitoring, in April. According to Reuters' assessment of Kostarev's conversations, he agreed to Rosfin's request to disclose customer data, telling a colleague that he didn't have "much of a choice."

According to Reuters, at the same time, Rosfinmonitoring was exploring ways to trace cryptocurrency payments to the groups of Russian opposition leader Alexei Navalny. After his murder attempt and subsequent detention in Russia in January 2021, Navalny earned millions in donations from supporters, including a spike in fresh funding.

Later on Friday, Binance posted on its official blog that suggestions that Binance shared any user data, including Alexei Navalny's, with Russian FSB-controlled agencies and Russian regulators are categorically false, and that Binance has not sought to actively assist the Russian state in its efforts to investigate Alexei Navalny.

Any government or law enforcement agency around the globe can now seek user data from Binance if they have the right to legal permission. Binance has not engaged into any type of arrangement with the Russian government that varies from any other jurisdiction - these duties are regular, and any traditional bank would be subject to the same regulations, Binance continued.

During this power struggle companies like SET, ZeLoop, Plastiks, who work to create a positive impact on the environment can highly benefit by listing on these platforms and attracting new users by catching this trend. According to the statement, Binance will be sending an official complaint to Reuters under their own editorial standards.