Binance Russia: What Happened and Where to Trade Now

When Binance Russia, the local arm of the world’s largest crypto exchange that once served millions in Russia. Also known as Binance RU, it offered fast trades, low fees, and easy fiat access—until it vanished overnight. In 2022, Russian regulators forced Binance to shut down its local operations. No public warning. No refund process. Just a notice on their site saying services were suspended. Users lost access to their accounts, and many never got their funds back. This wasn’t just a business decision—it was a political one. Russia’s central bank had been pushing to control all digital asset flows, and Binance, with its global structure and anonymity, was a target.

What followed was a chain reaction. Crypto regulations Russia, a patchwork of conflicting laws that banned exchanges from handling ruble deposits but allowed peer-to-peer trading. Also known as VASP rules Russia, these rules forced platforms to choose: comply with strict KYC and reporting, or disappear. Many smaller exchanges folded. Others moved offshore. Meanwhile, crypto banking Russia, the ability to link a bank account to a crypto wallet. Also known as fiat on-ramp Russia, it became nearly impossible. Banks started freezing accounts linked to crypto transactions—even for people just buying Bitcoin to protect savings from inflation. People turned to P2P platforms like LocalBitcoins and Paxful. Some used VPNs to access Binance Global. Others found unregulated exchanges with no customer support and higher risk of scams.

The truth is, Binance Russia didn’t fail because of bad technology or poor service. It failed because it operated in a country that didn’t want decentralized finance to exist. Today, if you’re in Russia and want to trade crypto, you’re on your own. There’s no official support. No legal protection. No clear path forward. But that doesn’t mean you can’t trade. You just need to know where to look—and what to avoid. Below, you’ll find real reviews of exchanges that Russians still use, breakdowns of the scams that followed Binance’s collapse, and guides on how to keep your assets safe when the rules change overnight.