It cannot be said that the trading community was

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Naturally, international regulators did not like the situation in which crypto exchanges were making huge amounts of money by helping to circumvent sanctions. Under pressure from regulators and the international business community, exchanges gradually introduced new restrictions. Binance lasted longer on the Russian market than others. Therefore, when the exchange announced in September 2023 that it was leaving Russia after all, but all accounts could be transferred directly within the exchange interface to the new CommEX platform, the market perceived this as another cunning maneuver by Binance, when some actions related to sanctions legislation are formally demonstrated, but de facto there is always a window to continue working on slightly changed terms.

optimistic about the portugal whatsapp resource emergence of CommEX. At that time, international regulators had repeatedly demonstrated that the principle of the triumph of the substance of the law over its form prevails in matters of sanctions. Companies were required to comply with sanctions in good faith and responsibly. In addition, new laws were introduced in relation to the crypto business, aimed at increasing transparency and accountability for all providers of digital asset services. The collapse of the FTX exchange, the criminal case against its head Sam Bankman-Fried, who was sentenced to 25 years in prison, became an unambiguous signal to the market that the scales of compliance with the law or receiving super profits were clearly beginning to tip in favor of the laws. Therefore, the appearance in September of an anonymous company that allegedly acquired the Russian market share from Binance made many doubt the effectiveness and long-term nature of this maneuver.

Life by different rules
The uncertainty over Binance’s compliance with sanctions and anti-money laundering measures soon faded. In parallel to the criminal trial of Bankman-Fried, who was found guilty of crypto asset fraud, Binance was under investigation. As a result, the exchange admitted to numerous violations of laws, including sanctions regulations and anti-money laundering and counter-terrorism financing requirements. Binance agreed to pay a fine of more than $4 billion to settle charges from the US Department of Justice. And Binance CEO Changpeng Zhao resigned and will personally pay $50 million.

The new CEO of Binance, Richard Teng, promised to take a course on absolute transparency, strengthening compliance procedures, and full compliance with laws. Against this background, the news that CommEX has decided to leave the Russian market looks like a logical continuation of one big story about the crypto market becoming a full-fledged part of the global economy. Industry participants themselves no longer determine the rules of the crypto market. Exchanges are subject to requirements similar to banks. Therefore, platforms that do not disclose information about themselves, their financial statements, do not conduct customer verification (KYC) and the origin of customer funds (AML) become illegal. In the context of stricter regulation of the cryptocurrency space, exchanges need to adapt to new realities, ensuring a high level of transparency and compliance with regulatory requirements. This not only helps in the fight against illegal activities, but also helps strengthen trust in the crypto sector as a who