Binance, the world’s largest crypto exchange, came to the fore with a remarkable decision. According to the statement made by Binance, the company decided to withdraw from the Russian market by selling all its assets. Here are the details!
Binance is withdrawing from the Russian market!
It has a very important place in the crypto exchange. Binance, came to the fore with a remarkable statement. The statement came from the company’s Twitter account. In the statement, all of Binance’s assets in Russia were transferred to the crypto exchange. to CommEX It was stated that an agreement was reached to sell it.
Thus, it was stated that the company will completely exit the Russian market. It was also stated that the exit process will take one year to avoid any problems for Binance Russian users. In this way, the company prevents Russian users from experiencing any problems.
Binance will now focus on the over 100 other countries where it currently operates. Binance Chief Compliance Officer (CCO) Noah Perlmanused the following statements in the statement: “Looking ahead, operating in Russia is not compatible with Binance’s compliance strategy.”
Cryptocurrency activities in Russia have been increasing recently due to the sanctions of Western countries. Thereupon, this sanction of the company resulted in various restrictions on Russia. Additionally, Binance is struggling with a lawsuit filed by the US Securities and Exchange Commission.
So, what do you think about the Binance Russia decision? Don’t forget to share your opinions with us in the comments section!