By Ben Otto Cryptocurrency platform Binance will exit Russia, selling its operations in the country to new crypto exchange CommEX. Binance, the world's...
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.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Binance to Sell Entire Russia Business to CommEXThe firm said the off-boarding process will take up to one year.
Read more »
Binance fully exits Russia amid legal risks, sells business to CommEXBinance announced its full exit from Russia today, adding that the off-boarding process may take up to one year.
Read more »
Binance fully exits Russia with sale to CommEXThe financial details of the deal remain undiscosed, however as a full exit from Russia, Binance will have no ongoing revenue split from the sale, nor does it maintain any option to buy back shares in the business.
Read more »
Binance exit aftershock: Can one resignation tip the crypto trust scales?Money is a valuable commodity, and even the hint that it may be in jeopardy is reason enough to react quickly and decisively.
Read more »
New XRP, ADA Futures Listing to Be Made by Binance: DetailsCryptocurrency derivatives trading platform Binance Futures makes important listing announcement
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
Read more »