Binance denied handing over user data to Russian FSB-controlled agencies

According to the representatives of the exchange, they did not conclude any agreements with the state bodies of the Russian Federation

23.04.2022 - 08:10

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What’s new? A statement appeared on the Binance blog refuting the crypto exchange’s cooperation with FSB-controlled entities to transfer user data. On April 22, Reuters reported that Binance’s head of Eastern Europe and Russia, Gleb Kostarev, began cooperating with government agencies of the Russian Federation. The blog published the text of correspondence between the exchange and the publication. According to Binance, the company has not entered into any agreements with the Russian government that differ from those with any other jurisdiction.

Information on the Binance blog

What does the company say? Binance stated that complying with disclosure obligations to the authorities in each jurisdiction is an important part of becoming a regulated business, and the exchange is in compliance with its legal obligations.

“On the specific matter of not sharing data — today, any government or law enforcement agency in the world can request user data from Binance as long as it is accompanied by the proper legal authority. Russia is no different.”

What had happened before? On April 22, the Reuters edition, citing knowledgeable sources, stated that Kostarev agreed to provide data of Russian clients to Rosfinmonitoring. According to the sources, he struck a deal with government agencies and negotiated the creation of a unit in Russia through which authorities can request access to data such as names and addresses, to help fight crime.

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