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Binance Accused of Breaching Data Protection Laws in Handing Over Client Details

Guavy AI Editorial Team
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Binance handed over client details to Russian authorities that were used to charge a Russian IT specialist with terrorism financing. The individual, Yuri Belenkiy, made over $700 in crypto donations to Ukrainian fundraising campaigns between January 2023 and March 2024.

The documents show that Binance's regional boss had met officials from Russia's financial monitoring agency in 2021 to help identify customers who made Bitcoin donations to anti-Kremlin campaigner Alexei Navalny. Binance said it had never been contacted by Russian authorities regarding Navalny at the time.

Binance exited Russia in September 2023, citing its compliance strategy, but the company claims it still cooperates with law enforcement globally under applicable legal and regulatory requirements.

The European Data Protection Board declined to comment on whether data protection laws were broken in Belenkiy's case. However, crypto regulation lawyer Mike Bystrov said that under EU GDPR rules, Binance may have had an obligation not to provide the data without a court order.

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