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Binance Sells Russian Unit to Day-Old CommEX, Exits Country

Crypto exchange Binance has agreed to sell the entirety of its Russia business to CommEX as it looks to fully exit the market over compliance concerns. CommEX appears to be a crypto exchange that was officially launched on Tuesday, while it seemingly listed BTC/USDT and ETH/USDT trading pairs for spot trading in July. It was reported earlier this year that Binance was facing a Department of Justice inquiry into whether Russian customers were able to access the exchange in violation of U.S. sanctions related to Russia's invasion of Ukraine. Binance said on Wednesday that with the sale, it would exit the country completely.

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