Binance refutes Reuters report on cooperation with the FSB and Rosfinmonitoring

Bitcoin exchange Binance опубликовала переписку с журналистами Reuters и опровергла обвинения в сотрудничестве с ФСБ и Росфинмониторингом.

In April, Binance’s Communications Director Patrick Hillmann, in response to the agency’s inquiry, explained that Russian authorities never contacted the trading platform regarding the opposition politician Alexei Navalny.

In its response to the published article, the Bitcoin exchange also calls false the claims that the company shares any user data with Russian regulators and FSB-controlled agencies.

According to Hillmann, Binance did not enter into any agreement with the Russian government that would differ from cooperation with the authorities in any other jurisdiction.

In the same correspondence, he clarified that the bitcoin exchange had received an invitation to a working group with Rosfinmonitoring, but declined to participate. Hillmann stated that Binance has no ties to that agency.

Prior to publication of the material, he also threatened to take the investigation’s details to the court of public opinion if the agency “decides to ignore the facts”.

“Regrettably, Reuters — one of the most respected and trusted news agencies — published this article, which completely contradicts the reputation that this publication has earned over years, and does not reflect our experience of working with countless other journalists within their organisation,” Binance said.

The Bitcoin exchange will file an official complaint with the agency in accordance with its editorial code.

According to Reuters, Binance’s regional office agreed to share information about Russian customers with Rosfinmonit oring and the FSB in exchange for help in doing business on the state’s territory.

According to the agency, in April 2021, the regional director of the Bitcoin exchange Gleb Kostarev, who at that time held the position of director for Eastern Europe, held a meeting with representatives from Rosfinmonitoring.

He allegedly agreed to share client data and establish a Russia-based local unit through which authorities could request access to this information.

“This is an absolute lie that I or Binance leaked data on Navalny or Rosfinmonitoring or the FSB,” Kostarev wrote on his Facebook.

As Reuters has reported, this is not the first Reuters investigation into Binance. In January 2022, Reuters journalists claimed that the company had repeatedly concealed information from regulators, neglected KYC procedures, and acted contrary to the recommendations of its own compliance department.

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