Binance’s Strategic Move
World-renowned crypto exchange, Binance, announced on Wednesday its intention to transfer its Russian operations to the crypto trading platform, CommEX. This significant shift comes without any subsequent revenue agreement or an option for Binance to repurchase shares in the later stages.
Reason for the Decision
Reflecting on the development, Binance’s Chief Compliance Officer, Noah Perlman, remarked, “Aligning with our stringent compliance strategy, we have determined that continuing operations in Russia does not match Binance’s vision for the future.”