"Major Crypto Exchange Pulls Out of Russian Market"
Binance, the world's largest cryptocurrency exchange, has announced its exit from Russia and the sale of its Russian operations to a newly created "community exchange" called CommEX. The move comes amid reports of a U.S. Justice Department investigation into potential violations of war-related sanctions on Moscow. Binance assured its Russian clients that their assets would be securely protected and transferred to CommEX within a year. The new exchange will not register users from Russia-annexed Crimea and also restricts registration from the United States, European Union, Iran, Cuba, Syria, and North Korea. Binance cited compliance strategy as the reason for its withdrawal from Russia.