The volume leader in crypto exchanges, Binance, declared in the autumn of 2023 a rolling exit one its operations for customers transacting the Russian ruble (RUB). Those Binance users in the Russian Federation will be given until the end of January in 2024 to relocate their funds. Additionally, Binance has made arrangements a sister exchange, CommEX, to accept these transfers and any proceeding conversions with no additional fees. Acceptance of this impending closure caused speculation that Binance continue to keep a “Russian-based branch” under an upgraded title through revenue sharing modules, though this connection is unproven. Controversy prevails as the company battles accusations from the United Securities and Exchange Commission (SEC) that were slung at them and others exchanges in the rang of Coinbase and Ripple, for the illegal advertisement and purchase of securities. On that same front, Binance complained motion tothrow the lawsuit out that the SEC is conceding under promises that regulations will be more lenient in acquiring investments going forward.
