Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.Binance, the world’s largest cryptocurrency exchange, is fully exiting Russiapublished today, Binance said that it has agreed to sell its Russia business to crypto exchange CommEX.
“As we look toward the future, we recognise that operating in Russia is not compatible with Binance's compliance strategy,” Noah Perlman, Binance’s Chief Compliance Officer, said in the statement. “We remain confident in the long-term growth of the Web3 industry around the world and will focus our energy on the 100+ other countries in which we operate.”
Binance added that all assets of existing Russian users are safe, and the off-boarding process may take up to one year. Binance said it will work with CommEX to migrate its assets to CommEX. “Over the next several months, Binance will sunset all exchange services and business lines in Russia,” the exchange said.
“Unlike similar deals from international companies in Russia, Binance will have no ongoing revenue split from the sale, nor does it maintain any option to buy back shares in the business,” it added.
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