Binance, the world’s largest cryptocurrency exchange, has announced its full exit from Russia with a sale to a newly launched exchange. This move comes as a response to the firm’s compliance issues related to Western sanctions imposed on Russia.

In August, Binance began considering an exit from the Russian markets following reports of its continued support for sanctioned Russian banks on its platform. While the crypto exchange has since severed ties with these financial institutions, it seems set on also permanently discontinuing its operations in Russia.

Binance Sells Russia Business To CommEX

In a statement published on Wednesday, September 27, Binance disclosed that it has reached an agreement to sell the entirety of its Russia business to CommEx. This comes just a day after CommEx …