At a time when the Binance Exchange had stopped its services in countries like Israel in connection with licensing matters, the world’s largest cryptocurrency exchange continues to strengthen relations with Russia.
Binance announced own entry into the Association of Banks of Russia. The aim is to facilitate dialogue with local authorities, legislators and cryptocurrency experts. The association was founded in 1990 and includes more than 300 banks and financial institutions in Russia, which cover almost 90% of the country’s banking infrastructure.
The Association Council approved the Exchange ‘s membership in the Association and has launched a specialized expert center for digital financial assets a digital currencies. The mission of the expert center is to prepare expert opinions on the circulation of digital assets in Russia and to provide the association and its representatives with expert data on this topic.
Binance will be in the lead
The management of the expert center of the association, approved by the board of the presidium of the association, was taken over by the director for government relations in Russia and the Commonwealth of Independent States Binance Olga Goncharova. Prior to joining Binance, she worked as a department director at the Bank of Russia.
The president of the Association, Georgy Luntovsky, noted that he would be responsible for the proper monitoring of the circulation of digital currencies in Russia. “In our opinion, it is a good candidate to lead a platform where the professional community could discuss approaches to the regulation and development of digital financial assets,He remarked.
Gleb Kostarev, director of the Binance Division for Eastern Europe, expressed the belief that Binance in the crypto market will be positively received by the Russian banking community.
The exchange is known for its close cooperation with some Russian organizations supported by the state as well as local blockchain supporters.
In 2021, the exchange provided its non-fungible token (NFT) platform to the Russian State Museum. Helped raise more than $ 440,000 in the museum’s NFT tokenized collectibles auction.