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Binance, the world’s largest cryptocurrency exchange, is exiting Russia by selling its operations there to a new crypto exchange known as CommEX.
“As we look toward the future, we recognize that operating in Russia is not compatible with Binance’s compliance strategy,” said Noah Perlman, Binance’s chief compliance officer.
Binance said Wednesday that “off-boarding” Russian customers would take up to a year. It didn’t give financial details of the deal.
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