Binance’s successor in Russia, CommEx, has made the surprising announcement that it will be closing down its operations in the country. The crypto exchange took over Binance’s Russian business after Binance exited the market. However, CommEx has not provided any specific reason for its decision to shut down. Beginning on March 25, new user registrations will be suspended, and transfers of assets from Binance will no longer be allowed. The exchange plans to fully cease its services by May 10. CommEx stated that user accounts with remaining assets after May 10 will be subject to a 1% asset management fee based on the snapshot of user balances on the platform’s last day. Despite the announcement, CommEx has not responded to requests for comment. This is a developing story, and further updates will be provided.
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Binance’s successor in Russia CommEx announces closure
