US EditionCryptocurrency exchange Binance to exit Russia
- Binance, the world's largest cryptocurrency exchange, has announced that it will be selling its Russia business to newly-launched exchange CommEX, citing that operating in Russia is not compatible with its compliance strategy.
- Despite not disclosing financial details, Binance has reassured its existing Russian users that all their assets are safe and there will be an orderly process for the migration of users.
- Binance's decision to exit Russia aligns with its future plans and ensures the safety of its Russian users' assets, as the country continues its war against Ukraine and several other Western companies are also pulling out of the market.
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Crypto firm Binance winds up business in Russia amid US scrutiny
Crypto firm Binance announced Wednesday (Sep 27) it was making full exit from Russia and selling its assets in the country to another firm CommEX. CommEx was only launched on Tuesday, raising eyebrows of observers around the world. The news comes amidst piling accusations on Binance that it helped the Russian government skirt sanctions that were imposed following Moscow’s invasion of Ukraine. It was reported in May that US Department of Justic
·Noida, India
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Total News Sources42
Leaning Left5Leaning Right5Center13Last UpdatedBias Distribution57% Center
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R 22%
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