NEW YORK, December 11. /TASS/. Cryptocurrency exchange Binance will stop supporting transactions with the Russian ruble from January 31, 2024, the exchange said on its website.

"Following the decision of exiting Russia with sale to CommEX, Binance P2P will no longer support the Russian Ruble (RUB) trading pairs, i.e., USDT/RUB, BTC/RUB, FDUSD/RUB, BNB/RUB, ETH/RUB, BUSD/RUB and RUB/RUB P2P trading pairs, starting from 2024-01-31 00:00 (UTC)," the statement said.

The company also noted that users can continue P2P trading with the Russian ruble "free of charge on the CommEX platform" or "withdraw their Russian Rubles via Binance’s fiat partners before 2024-01-31 00:00 (UTC), convert Russian Rubles into crypto on Binance Convert, or trade Russian Rubles for crypto on the Binance Spot market."

Binance was founded in 2017 by Chinese native Changpeng Zhao. It is widely regarded as the world's most advanced digital asset trading system. At the end of September, the crypto exchange announced its exit from Russia and the sale of its Russian company to the Seychelles-based CommEX platform. Both companies have agreed on the process of user migration.