Binance's Russia Exit Deepens, CommEx Announces Closure

Binance, the world’s largest cryptocurrency exchange, in the previous year made the decision to exit the Russian market. As part of this move, Binance sold its Russian branch to CommEX, another digital asset exchange. This decision was prompted by a variety of factors, including regulatory challenges and compliance issues faced by Binance in Russia. By offloading its Russian operations to CommEX, Binance aims to streamline its operations and focus on markets where it can operate more effectively.