Binance brokers like Nominex continue to serve Russia
Binance announced, with a great deal of fanfare, the sale of its Russian business unit to newly-setup exchange CommEX. And as part of this announcement, it highlighted that “operating in Russia is not compatible with Binance’s compliance strategy.” However, a more thorough Analysis seemed to suggest that CommEX was a white-label exchange that relied on Binance Cloud offerings and was likely even sharing liquidity with the existing Binance exchange. This raised serious questions about whether or not Binance had lived up to its stated intention to “fully exit Russia.” The Context: Binance woes in Russia disappear How to fake-leave a jurisdiction 101 by @BennettTomlin Subscribe and read https://t.co/Ms1nlLjHG8 pic.twitter.com/9V9kcmibI9 — Protos (@Protos) September 28, 2023 CommEX appears to be only one of the firms relying on Binance technology or liquidity to serve the Russian market. Nominex, the creator of “entertrading” ...