CommEx Shutdown: What It Means for Russian Crypto Investors
Monday, 25 March 2024, 14:51
Russian Cryptocurrency Exchange CommEX Shuts Down
CommEx, a major player in Russia's crypto market, known as the Binance alternative, is shutting down. Users must withdraw assets by May 10 to avoid a 1% fee.
Strategic Acquisition and Closure Timeline
- CommEx took over Binance's operations in Russia
- Phased shutdown process
- Suspension of asset transfers from Binance
- Stop on deposits and trading activities
- Website inaccessible by May 10
This development underscores the cryptocurrency market's volatility amid regulatory challenges.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.