{"id":85049,"date":"2023-09-27T11:17:46","date_gmt":"2023-09-27T08:17:46","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=85049"},"modified":"2025-09-12T20:59:40","modified_gmt":"2025-09-12T17:59:40","slug":"binance-to-exit-the-russian-market","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/binance-to-exit-the-russian-market\/","title":{"rendered":"Binance to exit the Russian market"},"content":{"rendered":"<p>The cryptocurrency exchange Binance <a href=\"https:\/\/www.binance.com\/en\/blog\/all\/binance-fully-exits-russia-with-sale-to-commex-8578760889994024403\">\u043f\u043e\u043a\u0438\u043d\u0435\u0442<\/a> Russian market. The business will be sold to CommEX, the parties have already concluded a corresponding agreement.<\/p>\n<p>The full process of migrating users to the new platform will take up to one year. Binance stressed that all assets of existing Russian clients are securely protected.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abLooking to the future, we recognise that operating in Russia is incompatible with Binance&#8217;s compliance strategy\u00bb, \u2014 said Noah Perlman, Binance&#8217;s Chief Compliance Officer.<\/p>\n<\/blockquote>\n<p>Over the next several months Binance will close all exchange services and business lines in Russia. Some new users who completed <span data-descr=\"Know Your Customer\" class=\"old_tooltip\">KYC<\/span> in Russia will be immediately redirected to CommEX.<\/p>\n<p>The financial terms of the deal were not disclosed, but it is known that as a result of this sale Binance will fully exit Russia.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abBinance will not have a recurring share of the proceeds from the sale, nor will it have the option to repurchase equity in the business\u00bb, \u2014 added the exchange&#8217;s representatives.<\/p>\n<\/blockquote>\n<div class=\"wp-block-text-wrappers-update-2 article_update\"><time class=\"gtb_text-wrappers_update_time\">27 September 2023 | 11:46<\/time><span class=\"gtb_text-wrappers_update_head\">Update: <\/span><\/p>\n<p>In a ForkLog comment, a Binance representative said that Russian citizens legally residing in other countries may use the exchange&#8217;s services and products, provided they comply with sanctions rules.<\/p>\n<p>During the transition, the trading platform will continue to protect customers&#8217; personal information by encrypting data at rest and in transit. Binance will shortly provide migration instructions to the new exchange.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abUsers are under no obligation to move to CommEX. If they wish, they can also withdraw their funds to another platform\u00bb, \u2014 said the exchange&#8217;s representatives.<\/p>\n<\/blockquote>\n<p>At the same time, Binance CEO Changpeng Zhao said that BNB holders will enjoy a 25% discount on trading on CommEx.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Everything will be done to ensure a smooth transition. All user funds are safe!<\/p>\n<p>Also:<\/p>\n<p>Among other things, <a href=\"https:\/\/twitter.com\/hashtag\/BNB?src=hash&#038;ref_src=twsrc%5Etfw\">#BNB<\/a> holders will continue to enjoy a 25% trading fee discount on <a href=\"https:\/\/twitter.com\/CommEX_com?ref_src=twsrc%5Etfw\">@CommEX_com<\/a>. <a href=\"https:\/\/t.co\/52pak53CqE\">https:\/\/t.co\/52pak53CqE<\/a><\/p>\n<p>\u2014 CZ ? Binance (@cz_binance) <a href=\"https:\/\/twitter.com\/cz_binance\/status\/1706948603233611858?ref_src=twsrc%5Etfw\">September 27, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Binance did not comment on the choice of deal partner. It is known that the CommEX exchange announced its launch on September 26.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">A hearty welcome to our new users from Russia and around the world! ? <\/p>\n<p>We&#8217;re dedicated to meeting your needs, refining our services &#038; delivering a top-tier trading experience. <\/p>\n<p>Stay tuned for exciting activities! Don&#8217;t miss out, start trading today at <a href=\"https:\/\/t.co\/shH7Zf0No7\">https:\/\/t.co\/shH7Zf0No7<\/a>. <a href=\"https:\/\/t.co\/eA3i0U6iEi\">https:\/\/t.co\/eA3i0U6iEi<\/a><\/p>\n<p>\u2014 CommEX (@CommEX_com) <a href=\"https:\/\/twitter.com\/CommEX_com\/status\/1706949620881076524?ref_src=twsrc%5Etfw\">September 27, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Overall, Binance believes that the decision to exit Russia will have a limited impact on its global business, as the company has been gradually reducing its presence in the country for a long time.<\/p>\n<\/div>\n<p>In late August, Binance <a href=\"https:\/\/u1f987.com\/en\/news\/binance-drops-sber-and-tinkoff-names-amid-us-doj-investigation\">\u0443\u0434\u0430\u043b\u0438\u043b\u0430<\/a> \u0441\u043e \u0441\u0432\u043e\u0438\u0445 P2P-\u043f\u043b\u0430\u0442\u0444\u043e\u0440\u043c \u043d\u0430\u0445\u043e\u0434\u044f\u0449\u0438\u0435\u0441\u044f \u043f\u043e\u0434 \u0430\u043c\u0435\u0440\u0438\u043a\u0430\u043d\u0441\u043a\u0438\u043c\u0438 \u0441\u0430\u043d\u043a\u0446\u0438\u044f\u043c\u0438 \u0431\u0430\u043d\u043a\u0438 \u00ab\u0421\u0431\u0435\u0440\u00bb, \u00ab\u0422\u0438\u043d\u044c\u043a\u043e\u0444\u0444\u00bb \u0438 \u00ab\u0410\u043b\u044c\u0444\u0430\u00bb.<\/p>\n<p>Also the exchange <a href=\"https:\/\/u1f987.com\/en\/news\/binance-limits-russians-to-p2p-trades-in-rubles-only\">\u0437\u0430\u043f\u0440\u0435\u0442\u0438\u043b\u0430 \u0440\u043e\u0441\u0441\u0438\u044f\u043d\u0430\u043c \u043e\u0431\u043c\u0435\u043d\u043d\u044b\u0435 \u043e\u043f\u0435\u0440\u0430\u0446\u0438\u0438<\/a> \u0441 \u043b\u044e\u0431\u044b\u043c\u0438 \u0444\u0438\u0430\u0442\u043d\u044b\u043c\u0438 \u0432\u0430\u043b\u044e\u0442\u0430\u043c\u0438 \u0437\u0430 \u0438\u0441\u043a\u043b\u044e\u0447\u0435\u043d\u0438\u0435\u043c \u0440\u0443\u0431\u043b\u044f.<\/p>\n<p>One of ForkLog&#8217;s experts <a href=\"https:\/\/u1f987.com\/en\/news\/in-russia-a-proposal-to-block-binance-over-restrictions-on-russians\">\u043f\u0440\u0435\u0434\u043b\u043e\u0436\u0438\u043b<\/a> \u0440\u0430\u0441\u0441\u043c\u043e\u0442\u0440\u0435\u0442\u044c \u0432\u043e\u0437\u043c\u043e\u0436\u043d\u043e\u0441\u0442\u044c \u0431\u043b\u043e\u043a\u0438\u0440\u043e\u0432\u043a\u0438 \u0432\u0432\u043e\u0434\u044f\u0449\u0438\u0445 \u043e\u0433\u0440\u0430\u043d\u0438\u0447\u0435\u043d\u0438\u044f \u0431\u0438\u0440\u0436 \u0432 \u0420\u0424.<\/p>\n<p>Against this backdrop, Binance representatives said they are examining, among other things, <a href=\"https:\/\/u1f987.com\/en\/news\/binance-weighs-potential-exit-from-russia\">the possibility of a complete withdrawal from the jurisdiction<\/a>.<\/p>\n<p>In early September Binance <a href=\"https:\/\/u1f987.com\/en\/news\/binance-parts-ways-with-top-managers-overseeing-russia\">left<\/a> the Director for Eastern Europe, Gleb Kostarev, and the Director for the CIS, Vladimir Smerkis. Both were responsible for the company&#8217;s operations in Russia.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The cryptocurrency exchange Binance will exit the Russian market. The business will be sold to CommEX; the parties have already concluded a corresponding agreement.<\/p>\n","protected":false},"author":1,"featured_media":85050,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,1318,1150,27],"class_list":["post-85049","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-commex","tag-news-plus","tag-russia"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/85049","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=85049"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/85049\/revisions"}],"predecessor-version":[{"id":85051,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/85049\/revisions\/85051"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/85050"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=85049"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=85049"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=85049"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}