ChainCatcher news, cryptocurrency exchanges Bybit and OKX will no longer process transactions involving certain sanctioned Russian banking institutions. Currently, OKX has stopped supporting payment services related to Russia's largest state-owned bank Sberbank, the largest private bank Alfa-Bank, and the major payment card issuer Neobank Tinkoff bank cards. Additionally, on the Bybit platform, although Sberbank and Tinkoff have not yet been removed from the list of supported payment methods, their bank cards can no longer be used for transactions.Previous report, according to sources cited by The Wall Street Journal, Binance is reassessing its Russian operations, including a complete exit from the Russian market. Insiders stated, "All options are on the table, including a complete exit."

ChainCatcher news, according to the Wall Street Journal, Binance's peer-to-peer service no longer supports customers in transferring funds through five sanctioned Russian banks.Previous news, Binance is still processing a large number of ruble transactions, which may violate U.S. global sanctions requirements. According to informed sources, the Department of Justice is investigating whether Binance may have violated U.S. sanctions against Russia.

ChainCatcher message, Binance has enabled Russians to buy/sell cryptocurrency using bank cards and e-wallets. The exchange accepts deposits to top up ruble balances, but not directly; instead, it is done through the Qiwi payment provider. The platform charges a fee of 1.2% on the input amount. The trading platform also supports withdrawing rubles to bank cards via Qiwi.Previously reported, a representative from Binance stated that all restrictions related to sanctions against Russian citizens currently apply fully to the platform and its legal entities in the EU. According to the sanctions rules, Binance entities registered in the EU are prohibited from providing services to Russian citizens. (Source link)

According to ChainCatcher news, the Russian state-owned commercial bank Sberbank is expected to launch an Ethereum-compatible DeFi platform before May, with testing opening in March. Konstantin Klimenko, product director of Sberbank's blockchain lab, stated that the platform will support usage through MetaMask. (Source link)