The head of Binance shared the details of the transfer of business to the Russian Federation

The CEO of Binance crypto exchange Changpeng Zhao revealed the details of the sale of Russian business CommEX.

According to him, at the stage of user migration from one platform to another, active crypto transfers between platforms will be carried out. Some regional Binance team members may join, and some have already joined, CommEX.

The design and functionality of the new exchange will remain as it was. This was done specifically for the ease of migration for users. They will not need to deal with new functionality.

According to Changpeng Zhao's statement, CommEX will not be able to serve users from Europe and the US - this is one of the conditions of the sale. In order to fulfill these conditions, the platform provides monitoring of users' IP addresses and KYC.

He also noted that the deal does not include a buyback, as some other companies have done.

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