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Published 2 months ago

Cryptocurrency 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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