A Russian court has overturned the previously imposed ban on the domain of Binance in the country, allowing the legal operations of the cryptocurrency exchange.
Binance’s name was added to the list of blocked sites by the country’s internet censorship agency, Roskomnadzor in September. Then, the decision was made to comply with another court decision that blamed the crypto exchange giant for illegally offering details on acquiring digital currencies.
“We are glad that we were able to successfully challenge the blocking of the domain and the corresponding court decision in due course,” Gleb Kostarev, Head of Binance’s Russian operations and CIS, told local crypto news site, Forklog.
“We hope that with the adoption of transparent laws in the field of cryptocurrency regulation in Russia, such cases will become a thing of the past and regulatory uncertainty will no longer negatively affect the development of cryptocurrency projects in Russia.”
A Censorship Not Implemented
Despite the official blocking, the Binance domain was reachable to Russians, meaning anyone could still continue to purchase Bitcoins or any other cryptocurrencies.
Additionally, Kostarev detailed that the blockade did not hamper the cryptocurrency trading volumes on the exchange from Russia, but it still moved the matter to court to protect any uncertainty and negative publicity.
The Russian media censor has a history of blockchain with other crypto platforms. Before Binance, it blocked BestChange.ru, an aggregator of over-the-counter (OTC) cryptocurrency providers.
Meanwhile, the Russian law legally defining cryptocurrencies as property became effective this month. However, the country is not welcoming cryptocurrencies with open arms as there are tough laws around digital currencies being proposed.
Most recently, Livecoin, a Russian crypto exchange, terminated its services after it was hacked last month, which crippled it technically and financially.
(Photo: Binance)
