Coin

<ul class="news-points"> 
 <li>Crypto giant Binance is set to exit the Russian market after selling its local unit to CommEX.</li> 
 <li>The crypto exchange’s off-boarding process is expected to take up to one year.</li> 
 <li>Binance clarified that it would not maintain an option to buy back shares in the business.</li> 
</ul> 
<a href="https://coinedition.com/tag/binance-news/">Binance, the world’s largest crypto exchange</a>, is set to exit the Russian crypto market. The crypto giant is selling its local business to fellow crypto exchange CommEX, for an undisclosed sum. Binance’s departure from Russia comes months after the exchange was accused of violating sanctions imposed on the country. 
According to a press release by Binance, the crypto giant has entered into an agreement to sell all its Russian assets to local crypto exchange CommEX. Users of Binance’s Russian arm will be off-boarded from the exchange and guided to CommEX. The exchange stated that the off-boarding process is expected to take up to one year. 
“As we look toward the future, we recognise that operating in Russia is not compatible with Binance’s compliance strategy. We remain confident in the long-term growth of the web3 industry around the world and will focus our energy on the 100+ other countri…
The post <a rel="nofollow" href="https://coinedition.com/binance-to-fully-exit-russia-following-sale-to-commex/">Binance To Fully Exit Russia Following Sale To CommEX</a> appeared first on <a rel="nofollow" href="https://coinedition.com">Coin Edition</a>.

Binance To Fully Exit Russia Following Sale To CommEX

Coin Edition

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