When you hear Binance Russia, the Russian branch of the world’s largest cryptocurrency exchange. Also known as Binance RU, it was once a go-to platform for millions of Russian users looking to trade Bitcoin, Ethereum, and other digital assets without heavy restrictions. But by 2022, Binance Russia no longer existed as a standalone service. The company didn’t just leave—it was forced out by Russia’s own financial crackdowns and global pressure over sanctions and compliance.
What happened? Russia introduced strict rules requiring all crypto exchanges to register with the central bank and follow KYC, Know Your Customer regulations that verify user identities. Also known as anti-money laundering checks, these rules made it impossible for Binance to operate under its usual anonymous-friendly model. Meanwhile, Western sanctions after the 2022 invasion of Ukraine blocked Binance from processing ruble transactions and restricted its access to international banking partners. The result? Binance quietly redirected Russian users to its global platform, but with heavy limitations: no fiat deposits, no local support, and no easy way to cash out.
This wasn’t just a business move—it was a warning to the whole crypto industry. If even giants like Binance can’t survive in a country that claims to support digital assets, what hope is there for smaller platforms? The story of Binance Russia, the failed attempt to bring global crypto to a nation tightening its digital controls. Also known as the Russian crypto experiment, shows how regulation, geopolitics, and user trust collide in real time. Today, Russian traders still use crypto—but they rely on peer-to-peer marketplaces, offshore exchanges, and decentralized platforms that don’t ask questions. Meanwhile, the legacy of Binance Russia lives on in the stories of users who lost access to funds, and in the lessons learned by exchanges worldwide about when to stay and when to go.
Below, you’ll find real cases of crypto platforms that vanished under regulatory pressure, scams that preyed on confused users, and the exact steps you can take to protect your assets when exchanges collapse or governments intervene. These aren’t hypotheticals—they’re lessons from the front lines of crypto’s most turbulent years.
Russia doesn't ban all crypto exchanges, but it blocks those that don't comply with its rules. Garantex and Grinex are sanctioned, Binance and Coinbase are unusable, and only state-approved platforms will survive long-term.