Binance Exits Russia With Sale to Just-Launched Exchange
- CommEX was launched a day before Binance announced deal
- Perlman says Russia business ‘not compatible’ with compliance
Changpeng Zhao
Photographer: Zed Jameson/BloombergThis article is for subscribers only.
Binance said it exited its Russia business by selling it to CommEX, a crypto exchange that says it officially launched on Tuesday.
“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, wrote in a blog post on the company’s website published Wednesday. The company didn’t provide financial terms.