Binance says to sell Russia business to CommEX (updated)
27/09/2023 09:14
(Adds details from the statement in paragraph 2-3)
Sept 27 (Reuters) - Crypto exchange Binance said on
Wednesday it has entered into an agreement to sell its Russia
business to crypto exchange CommEX.
Binance will have no ongoing revenue split from the
sale, nor does it maintain any option to buy back shares in the
business, the world's largest cryptocurrency exchange said in a
statement without disclosing financial details of the deal.
"As we look toward the future, we recognise that
operating in Russia is not compatible with Binance's compliance
strategy,” said Noah Perlman, Binance’s chief compliance
officer.
(Reporting by Kanjyik Ghosh in Bengaluru; Editing by Savio
D'Souza and Nivedita Bhattacharjee)
((Kanjyik.Ghosh@thomsonreuters.com;))