Binance Left Russia in 2023: Why Is Moscow Still Getting User Data?
Binance said it left Russia in 2023. Two years later, Russian investigators asked the exchange for a customer's records. They got them. Reuters reportedly reviewed the law enforcement documents showing those files became evidence in a terrorism financing case.
The contradiction is simpler than it looks. Leaving a market ends revenue in a country. It does not delete the files an exchange already holds.
What Binance Actually Ended in 2023
Binance sold its Russian arm to CommEX on September 27, 2023. Chief Compliance Officer Noah Perlman said operating in Russia did not fit the company's compliance strategy.
The announcement was precise about money. Binance kept no revenue share. It kept no option to buy the business back. The exchange had spent the previous weeks weighing a Russian withdrawal under regulatory pressure.
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