At least two major crypto exchanges followed Binance by excluding Russian banks under international financial sanctions from their payment options. Tinkoff Bank and Sberbank are no longer available on the list of peer-to-peer (P2P) transactions on Bybit and OKX.<\/p>\n
According to Russian media, local users can no longer receive fiat money in exchange for their crypto on Tinkoff Bank or Sberbank accounts on the P2P platforms of OKX and Bybit. No official announcements by the representatives of either company were made in official channels. <\/p>\n
However, at the time of publication, OKX still allows users to receive fiat to their accounts of the Russian branch of Raiffeisen Bank and the Russian Standard Bank. Both financial institutions aren\u2019t included in the list of entities under sanctions by the United States Treasury.<\/p>\n
The new wave of attention to the presence of sanctioned Russian banks on the crypto exchanges\u2019 payments option rose last week when the Wall Street Journal reported that Binance was listing Tinkoff and Sberbank as transfer methods. On Aug 24, the official brands of Tinkoff and Sberbank disappeared from the Binance P2P platform, but the \u201cyellow\u201d and \u201cgreen\u201d options, representing their brand colors, were still present. A day later the WSJ reported that the sanctioned banks were removed from the list altogether, citing a Binance spokesperson. <\/p>\n