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The financial details of the deal remain undisclosed, however as a full exit from Russia, Binance will have no ongoing revenue split, nor any option to buy back shares, the companies said. Cryptocurrency exchange Binance has announced its full exit from Russia by selling its firm to the cryptocurrency exchange platform known as CommEX. Binance has entered into an agreement to sell the entirety of its Russia business to CommEX, the firm said in an announcement to Cointelegraph on Sept. 27. To ensure a smooth process for existing Russian users, the off-boarding process will take up to one year, the announcement reads. “All assets of existing Russian users are safe and securely protected,” Binance noted. “As we look toward the future, we recognise that operating in Russia is not compatible with Binance's compliance strategy,” Binance’s chief compliance officer Noah Perlman said, adding: “We remain confident in the long-term growth of the web3 industry around the world and will focus ...

SVB’s epic failure occurred “at a bank that happened to deal with crypto customers” but “was not a crypto-induced problem,” said Mick Mulvaney. In the United States, crypto reform legislation isn’t the province of a single political party, and that’s why a former U.S. Congressman, who also played a prominent role in the Trump administration, believes that passage of a federal “digital assets” law this year is a real possibility. “Democrats aren’t all on one side; Republicans aren’t all on the other side,” said Mick Mulvaney, who was budget director and later acting White House Chief of Staff from January 2019 to March 2020, told Cointelegraph, further explaining: “I do think in this Congress, which has got functionally about 14–16 months left before it sort of shuts down before the next election cycle, you will get a meaningful piece of legislation on blockchain/crypto — what we’re referring to collectively as digital assets.” Mulvaney’s government resume is long and varied. In addit...