CommEX, the Russian Alternative to Binance, Ceases Operations
CommEX, Russian Binance Alternative, Closes Down
CommEx, a key player in Russia's cryptocurrency market and known as the Binance alternative, is shutting down. Users must withdraw assets by May 10 to evade a 1% fee.
Crypto Exchange CommEX Closes Doors
CommEx's decision to halt operations has sent ripples through the cryptocurrency community in Russia. The phased closure will see the suspension of asset transfers from Binance, alongside a stop on all fiat and cryptocurrency deposits starting today.
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The closure of CommEx comes after Binance's strategic retreat from the Russian market amidst increasing regulatory scrutiny. Binance's exit, through selling its Russian business to CommEx just before the latter's launch, was a pivotal moment for the cryptocurrency market in Russia. Now, as CommEx ceases operations, the market faces new challenges and uncertainties.
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