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<p><a href="https://binance.com/" rel="noopener noreferrer nofollow">Binance</a>, the leading global cryptocurrency exchange, has recently reached an agreement with CommEX, a smaller crypto company, to offload its Russian operations. In an official press release on Wednesday, Binance stated that the process of off-boarding will span up to one year to ensure a seamless transition for its Russian clients. The exchange emphasized that… <a href="https://landindex.io/news" rel="noopener noreferrer nofollow">Read more</a></p><react-video url="https://www.youtube.com/watch?v&#61;rZb5uLJ2R5g"></react-video><p></p><h3 id="a-shift-in-compliance-strategy">A Shift in Compliance Strategy</h3><p>Binance, the leading global cryptocurrency exchange, has recently reached an agreement with CommEX, a smaller crypto company, to offload its Russian operations. In an official press release on Wednesday, Binance stated that the process of off-boarding will span up to one year to ensure a seamless transition for its Russian clients. The exchange emphasized that all assets of existing Russian customers will remain secure and well-protected.</p><p>According to Binance, the decision to discontinue operations in Russia aligns with its compliance strategy. The company plans to shut down all trading services and other business projects within the country over the next few months. Throughout this transition, Binance is committed to maintaining a smooth user experience.</p><p>It is important to note that this deal marks the termination of all Binance activities in Russia. Unlike other international companies doing business in Russia, Binance will neither earn ongoing revenue from the sale nor retain an option to repurchase shares in the company, as clarified in the statement.</p><react-video url="https://www.youtube.com/watch?v&#61;9yeDcuKf3IY"></react-video><p></p><h2 id="header-0">Binance Announces Exit from Russia</h2><p>Earlier this year, in early March, Binance made the decision to suspend US dollar and euro operations via its peer-to-peer service for both Russian residents and individuals residing in Russia. This move was in compliance with the tenth sanctions package imposed on Russia by the European Union.</p><p>Furthermore, in late August, Binance took steps to prohibit Russians from conducting transactions in currencies other than the ruble.</p><h3 id="binance-russia">Binance Russia</h3><p>Overall, Binance’s departure from Russia underscores the company’s dedication to adapting its operations to meet evolving compliance regulations. By streamlining its focus and prioritizing regulatory compliance, Binance ensures a more sustainable and secure <a href="https://landindex.io/" rel="noopener noreferrer nofollow">cryptocurrency</a> trading environment for its global user base.</p>

Binance Announces Exit from Russia: A Shift in Compliance Strategy

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