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Author Topic: BREAKING: Binance handling over its Russian Business, Some key Points  (Read 39 times)
talkoncrypto Official (OP)
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September 27, 2023, 10:12:21 AM
Last edit: September 28, 2023, 08:22:52 AM by talkoncrypto Official
 #1

I hope u guys heard that Binance announce that they will completely withdraw from Russia and sell its business to CommEX. What do you think about this move , moreover commex is just a month old exchange which hardly people know ... who looks for security of funds , and if you have anything to share please feel free .. lets have a unbiased opinion

My few observations

1) why binance has to collaborate with a new exchange which no one knows, and if anything goes bad who will be held responsible
2) As i mentioned security is a big concern in centralized exchanges, where is this exchange actually registered
3) No mention of the team anywhere such as whats their earlier exchange or something like this...
4)  What are some positives that you see for the users
5) is this really a regulatory issue  as menioned by them according to ((your opinion)), or are there are some undisclosed issues
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September 27, 2023, 10:15:07 AM
 #2

This thread is already existing: Binance exits Russia

Lock this thread.

You can continue the discussion on the already existing thread.

.
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talkoncrypto Official (OP)
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September 27, 2023, 10:26:39 AM
 #3

This thread is already existing: Binance exits Russia

Lock this thread.

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Let it be as of now if needed will do it later as  i have few observations which i think should we all address ...
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September 27, 2023, 03:45:58 PM
 #4

1) why binance has to collaborate with a new exchange which no one knows, and if anything goes bad who will be held responsible
Binance Fully Exits Russia With Sale to CommEX
Quote
Binance has entered into an agreement to sell the entirety of its Russia business to CommEX. To ensure a smooth process for existing Russian users, the off-boarding process will take up to one year. All assets of existing Russian users are safe and securely protected.

At least there is an official statement from Binance, why should you choose CommEX, the quote above is my assessment of current Binance users, there is a sense of security for at least one year waiting for Binance to really trust CommEX, after that users can choose another exchange, perhaps Binance's policy is to make CommEX trustworthy in Russia in the future by crypto users at large, for this reason Binance chose CommEX as the main collaboration, rather than other exchanges operating in Russia.

5) is this really a regulatory issue  as menioned by them according to ((your opinion)), or are there are some undisclosed issues

In the source above, it states there is no profit sharing, but you know the true nature of Binance, if it does not comply with their rules, Binance immediately stops and decides to operate, In terms of CommEX and Binance there are definitely secrets, they are internal, not required to be published, but Binance provides one year of security for users who want to switch to CommEX, but still, Binance subtly gives the green light for its users to join CommEX or other exchanges, according to their respective beliefs, there is no free compulsion in choice.

R


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