Binance has said it has assembled a global compliance task force in a bid to take action against Russia.
Binance says its global compliance task force includes renowned sanctions experts.
The crypto exchange says the intended action will seek to minimize the potential impacts on innocent users.
The move by Binance is now seen to reflect calls by the Western nations for sanctions against Russia following its invasion of Ukraine.
Binance is also playing a role in humanitarian efforts in Ukraine, having earmarked $10 million in crypto donations.
Washington is also seeking crypto sanctions against Moscow, while the Ukrainian government targets addresses of crypto wallets by Russian politicians.
Crypto has been used as a tool of war in support of Ukrainian defense, with millions being donated since the Russian invasion.