NEW YORK, November 10. /TASS/. Binance is terminating services for ruble deposits and users will be able to withdraw their assets by January 31, 2024, the cryptocurrency exchange said on its website.

"Following the decision of exiting Russia with sale to CommEX, Binance will stop Russian ruble (RUB) deposits at November 15, 2023 00:00 (UTC) [03.00 a.m. Moscow time]. Withdrawals of Russian rubles will continue to be available until January 31, 2024 00:00 (UTC) [03.00 a.m. Moscow time].," Binance said.

"Users holding a fiat balance in Russian rubles may transfer their funds to the CommEX platform without fees," the cryptoexchange said. "Register for a CommEX account or log into the CommEX account, and connect it to the corresponding Binance account. Once the connection is done, users may transfer their Russian rubles on Binance to CommEX," it noted.

"In addition, users may withdraw their Russian rubles via Binance’s fiat partners before the aforementioned deadline, convert Russian rubles into crypto on Binance Convert, or trade Russian rubles for crypto on the Binance Spot market," Binance added.

Binance announced its exit from Russia and the sale of its Russian business to CommEX in late September 2023. Both organizations agreed on the process of moving users over and taking all the required measures to notify the customer about the asset transfer procedure, the cryptoexchange’s representatives said.