In a recent Wall Street Journal report, a topic of great concern was mentioned: currency security considerations led to the decision to completely withdraw from the Russian market. This move has sparked heated discussions around the world and has also made people begin to re-examine the attitudes of other exchanges towards ruble trading. Let us take a deep look at the various factors behind this incident and analyze its possible impact.

As an important member of the global financial market, the turmoil in the Russian market has always attracted much attention. Recently, with the intertwined influence of a series of political and economic factors, the issue of currency security has once again become the focus. The report of the Wall Street Journal revealed a surprising decision: to completely withdraw from the Russian market. Behind this decision, there must be complex considerations and far-reaching impacts.

From the perspective of currency security, this decision may be based on the uncertainty and risk of the ruble exchange rate. With the instability of the Russian political situation and the continued impact of international sanctions, the volatility of the ruble exchange rate has increased, posing a huge challenge to investors. In this case, in order to ensure the safety of funds, choosing to withdraw from the Russian market may be regarded as a prudent move.

In addition to currency security considerations, political factors are also one of the important reasons for this decision. With the tension of international relations and geopolitical changes, the risks in the Russian market are gradually increasing. Some countries or institutions may choose to reduce financial transactions with Russia for political reasons to avoid potential risks and uncertainties. This also reflects the international community's concerns and vigilance about the Russian market.

However, despite the many challenges and risks, the Russian market remains attractive. In addition to the withdrawal action mentioned by the Wall Street Journal, other exchanges are still continuing to trade rubles. This shows that despite the complex and changing market environment, some institutions are still willing to take risks and seize the business opportunities contained in the Russian market.

In the context of globalization, the connection between markets is becoming increasingly close, and the political and economic turmoil in a country often has a chain reaction on the global financial market. Therefore, for the dynamic changes in the Russian market, we should not be limited to superficial phenomena, but should think deeply about the reasons behind it and the possible far-reaching impact. The importance of currency security has become increasingly prominent, and investors and institutions need to respond prudently to market changes, remain vigilant, and make rational decisions.

In summary, the turmoil in the Russian market and the issue of currency security are not just the affairs of a country or region, but a small but important part of the global financial system. We need to remain vigilant, assess the situation, and make wise investment choices to better adapt to the changing market environment. Currency security considerations may be just the beginning, but the risks and opportunities behind them will affect the future direction of the global financial market. In this ever-changing and complex world, we hope to remain calm and sober, seize opportunities and meet challenges.

The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

Coin Circle (120BTC.COM): After Russia invaded Ukraine last year, the world's largest () announced that it would stop doing business in Russia to comply with Western sanctions. 

But last week, it was reported that Binance was still processing a large number of ruble transactions, helping Russians transfer funds overseas, and the US Department of Justice has launched an investigation for this. 

WSJ: Binance considers withdrawing from the Russian market completely 

As the US Department of Justice intervened in the investigation, the Wall Street Journal reported on the 28th that Binance is re-evaluating its Russian business, including the possibility of withdrawing from the market completely. 

A Binance spokesperson said in the report: All options are on the table, including "complete withdrawal." 

It is understood that Russia was once one of Binance's largest trading markets. Binance has further restricted Russia's peer-to-peer (P2P) trading services on Monday, removing several sanctioned Russian banks from payment options, and adding fiat currency trading restrictions for Russian users. 

However, CCData data shows that Binance is not the only exchange that provides transactions involving rubles, and several other exchanges are still continuing to process transactions from rubles to crypto assets. For example, the OKX website shows that it provides P2P transactions for rubles to exchange for digital assets. A spokesperson said: OKX complies with the requirements of applicable sanctions and provides services to global users, including Russian users.

Russia launches CBDC trial digital ruble

On the other hand, the Russian Central Bank announced in the middle of this month that the country has begun consumer testing of the digital ruble since the 15th. The first phase of the pilot involves enabling digital wallets, digital ruble transfers between citizens, QR code payments, etc. Pilot participants will be able to use digital ruble payments at 30 sales points in 11 cities in Russia.

Russian authorities hope to circumvent sanctions through blockchain technology and strengthen control over Russian citizens, and plan to popularize its use in 2027.