Crypto Firm Binance Pulls Out Of Russia

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Binance runs crypto exchanges and provides other services across the world but it has taken a severe hit since crypto markets collapsed and regulators began probing the legality of its business.

In November last year, the firm admitted its exchange had “interacted” with “bad actors” in Iran after Reuters reports alleged it had helped move billions of dollars in defiance of US sanctions.

Binance was founded in 2017 in China by Canadian national Changpeng Zhao but following a crypto crackdown by Beijing, he moved its operations to locations including Singapore, Bahrain, Dubai, Paris and the Cayman Islands.

 

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