Major cryptocurrency exchange Binance disputed the veracity of a study alleging that one of the local elites did agree to just provide Russia’s economic planning component with customer information probably linked to charitable contributions to anti-corruption.

Gleb Kostarev, Binance’s chief of Eastern Europe and Russia, managed to meet with authorities from Russia’s Rosfinmonitoring, an economic monitoring system connected to the nation’s Ministry Of Public security, or Financial stability board, in April 2021, according to Reuters. Kostarev supposedly agreed to the state body’s request to transform over all the user information, such as names and locations and responded by telling an affiliation that he doesn’t have “enough of an option” on the issue. Even so, some other unidentified cryptocurrency exchanges refused to provide the customer information to Rosfinmonitoring issues of security.

The Rosfinmonitoring may well have tried to obtain data from users making a donation of BTC to Navalny, who has been currently jailed in Russia after already being convicted of criminal contempt and misappropriation of funds in March. Many humanitarian organizations, such as Amnesty International, have claimed that the costs were political, citing Navalny’s serious criticism of the Russian President for bribery and accusing Putin of becoming willing to take responsibility for his toxicity in August 2020.

Binance, on the other hand, dropped hints in a Thursday blog article that now the study provided a “false story” that supplied “only enough balancing act potential to seek to prevent a legal complaint.” The company denied sharing user information with “Russian FSB govern organizations and Russian regulatory agencies, trying to call the claim absolutely false.

Nowadays, many law enforcement and government organization in the universe can ask for user information as hard as the request is preceded by the appropriate legal power. Russia is no exception […] Binance hasn’t decided to enter into any unexpected contract also with the Russian govt that is not similar to other jurisdictions.

Binance authored the email correspondence among Press releases as well as its spokespeople were used in the report’s research. The company also stated that this would make a formal complaint to the media organization, accusing it of “excitement” or sensationalist journalistic integrity.