Following Binance’s lead, two other major crypto exchanges have removed Russian banks under international sanctions from their P2P payment options.
Bybit and OKX no longer offer Tinkoff Bank and Sberbank as transfer methods for local users who want to exchange their crypto for fiat money. Neither exchange has made any official statement on this change.
The issue of sanctioned Russian banks on crypto platforms came to light last week, when The Wall Street Journal reported that Binance had Tinkoff Bank and Sberbank on its list of P2P transactions.
On Aug. 24, these banks were no longer visible on Binance’s P2P platform, but their brand colors were still there.
The next day, the WSJ reported that Binance had completely removed the sanctioned banks from its list, quoting a spokesperson from the exchange.