Binance to Exit Russia With Sale to Crypto Exchange CommEX

Cryptocurrency platform Binance will exit Russia, selling its operations in the country to new crypto exchange CommEX.

Binance, the world's largest cryptocurrency exchange, said Wednesday that it will have no ongoing revenue split from the sale, nor any option to buy back shares in the business. It didn't disclose the financial terms of the deal with CommEX, a crypto exchange that launched this week. "As we look toward the future, we recognize that operating in Russia is not compatible with Binance's compliance strategy," Chief Compliance Officer Noah Perlman said in a press release.

The Wall Street Journal reported last month that Binance was considering exiting the once-important market after moving to limit its Russian peer-to-peer trading service.

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

New XRP, ADA Futures Listing to Be Made by Binance: DetailsCryptocurrency derivatives trading platform Binance Futures makes important listing announcement
Source: Utoday_en - 🏆 295. / 63 Read more »

Binance reopens Belgium operations after three months of suspension by FSMABinance, the largest exchange by trading volume, has resumed operations in Belgium, around three months after suspension. An earlier report indicated
Source: FXStreetNews - 🏆 14. / 72 Read more »